Diversify Wealth Management LLC Grows Stock Holdings in Agnico Eagle Mines Limited $AEM

Diversify Wealth Management LLC grew its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 183.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,101 shares of the mining company’s stock after buying an additional 5,885 shares during the period. Diversify Wealth Management LLC’s holdings in Agnico Eagle Mines were worth $1,847,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEM. Norges Bank bought a new position in shares of Agnico Eagle Mines during the 4th quarter worth approximately $1,367,783,000. Van ECK Associates Corp boosted its stake in Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after acquiring an additional 3,062,705 shares in the last quarter. Alberta Investment Management Corp purchased a new position in Agnico Eagle Mines in the fourth quarter worth $194,195,000. Employees Provident Fund Board purchased a new position in Agnico Eagle Mines in the fourth quarter worth $183,341,000. Finally, Auto Owners Insurance Co increased its position in shares of Agnico Eagle Mines by 16,853.0% during the fourth quarter. Auto Owners Insurance Co now owns 915,462 shares of the mining company’s stock worth $15,520,000 after purchasing an additional 910,062 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 0.5%

NYSE AEM opened at $144.29 on Wednesday. The company has a fifty day simple moving average of $168.50 and a two-hundred day simple moving average of $192.40. The stock has a market cap of $73.24 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.88 and a beta of 0.60. Agnico Eagle Mines Limited has a 12-month low of $116.83 and a 12-month high of $255.24. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the company earned $1.53 earnings per share. The business’s quarterly revenue was up 66.1% compared to the same quarter last year. On average, analysts forecast that Agnico Eagle Mines Limited will post 12.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AEM has been the subject of several analyst reports. Royal Bank Of Canada decreased their price objective on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a report on Thursday, July 9th. Bank of America dropped their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Barclays reduced their target price on Agnico Eagle Mines from $213.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 6th. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, JPMorgan Chase & Co. raised their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $236.77.

Agnico Eagle Mines Profile

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.