Pembroke Management LTD Purchases 4,148 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Pembroke Management LTD grew its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 34.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,120 shares of the mining company’s stock after purchasing an additional 4,148 shares during the period. Pembroke Management LTD’s holdings in Agnico Eagle Mines were worth $1,299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Manning & Napier Advisors LLC bought a new stake in Agnico Eagle Mines in the 2nd quarter worth approximately $2,595,000. Capital Wealth Planning LLC lifted its holdings in shares of Agnico Eagle Mines by 62.3% in the 1st quarter. Capital Wealth Planning LLC now owns 2,620,345 shares of the mining company’s stock worth $156,304,000 after acquiring an additional 1,006,001 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at $1,388,000. GSA Capital Partners LLP bought a new position in shares of Agnico Eagle Mines during the 1st quarter valued at $878,000. Finally, Tidal Investments LLC grew its holdings in shares of Agnico Eagle Mines by 87.8% during the 1st quarter. Tidal Investments LLC now owns 20,598 shares of the mining company’s stock valued at $1,195,000 after purchasing an additional 9,628 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on AEM shares. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. CIBC raised their price target on Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Royal Bank of Canada lifted their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank increased their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, TD Securities raised their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $85.80 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $82.30 and its 200 day simple moving average is $74.13. The stock has a market cap of $43.05 billion, a P/E ratio of 42.90, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $89.00.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 8.98%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the company earned $0.65 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, research analysts predict that Agnico Eagle Mines Limited will post 4.01 EPS for the current year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.