Auto Owners Insurance Co Grows Position in Agnico Eagle Mines Limited $AEM

Auto Owners Insurance Co boosted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 16,853.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 915,462 shares of the mining company’s stock after purchasing an additional 910,062 shares during the period. Auto Owners Insurance Co’s holdings in Agnico Eagle Mines were worth $15,520,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the fourth quarter valued at approximately $26,000. Abound Wealth Management boosted its holdings in Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after acquiring an additional 104 shares during the period. Lodestone Wealth Management LLC bought a new position in Agnico Eagle Mines in the 4th quarter valued at $35,000. Jessup Wealth Management Inc bought a new position in Agnico Eagle Mines in the 4th quarter valued at $35,000. Finally, Caitlin John LLC purchased a new stake in Agnico Eagle Mines in the third quarter worth $36,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

AEM opened at $166.63 on Friday. The firm has a market capitalization of $84.58 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 3.66 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The business’s 50-day moving average is $186.15 and its two-hundred day moving average is $194.38. Agnico Eagle Mines Limited has a 1 year low of $114.60 and a 1 year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the firm posted $1.53 earnings per share. The company’s quarterly revenue was up 66.1% on a year-over-year basis. Research analysts anticipate that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on AEM. JPMorgan Chase & Co. lifted their target price on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Finally, Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $236.08.

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.