Perigon Wealth Management LLC Acquires Shares of 8,177 Agnico Eagle Mines Limited $AEM

Perigon Wealth Management LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,177 shares of the mining company’s stock, valued at approximately $1,269,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEM. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Agnico Eagle Mines by 1.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock valued at $893,000 after purchasing an additional 59 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Agnico Eagle Mines by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,284 shares of the mining company’s stock worth $2,422,000 after buying an additional 63 shares during the last quarter. Syon Capital LLC boosted its stake in Agnico Eagle Mines by 1.8% during the fourth quarter. Syon Capital LLC now owns 3,675 shares of the mining company’s stock worth $623,000 after buying an additional 65 shares during the period. CIBC Private Wealth Group LLC increased its position in Agnico Eagle Mines by 1.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company’s stock valued at $728,000 after acquiring an additional 67 shares during the last quarter. Finally, Rossby Financial LCC increased its position in Agnico Eagle Mines by 1.1% during the fourth quarter. Rossby Financial LCC now owns 7,061 shares of the mining company’s stock valued at $1,197,000 after acquiring an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Down 1.1%

NYSE AEM opened at $186.79 on Wednesday. The stock has a market cap of $94.68 billion, a PE ratio of 15.98, a PEG ratio of 2.32 and a beta of 0.61. Agnico Eagle Mines Limited has a 12 month low of $130.04 and a 12 month high of $255.24. The company’s 50-day moving average price is $157.75 and its 200-day moving average price is $186.40. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The firm’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same quarter last year, the business posted $1.94 EPS. Equities research analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on AEM. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Scotiabank reduced their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Royal Bank Of Canada decreased their price objective on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a research note on Thursday, July 9th. Scotia dropped their target price on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research report on Friday, July 3rd. Finally, Canadian Imperial Bank of Commerce set a $285.00 target price on Agnico Eagle Mines in a research note on Thursday, July 16th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $226.00.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.