Allspring Global Investments Holdings LLC Buys 12,157 Shares of Agnico Eagle Mines Limited $AEM

Allspring Global Investments Holdings LLC increased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 538,236 shares of the mining company’s stock after acquiring an additional 12,157 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Agnico Eagle Mines were worth $110,509,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AEM. Acumen Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $26,000. Abound Wealth Management raised its stake in Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after buying an additional 104 shares during the period. Lodestone Wealth Management LLC bought a new position in Agnico Eagle Mines during the fourth quarter worth about $35,000. Jessup Wealth Management Inc acquired a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Finally, Bangor Savings Bank bought a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $37,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $136.89 on Friday. The firm has a market cap of $69.48 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.81 and a beta of 0.60. The business’s 50 day moving average is $165.41 and its 200-day moving average is $191.42. 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 Limited has a 1-year low of $117.65 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company’s revenue for the quarter was up 66.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.53 EPS. Equities research analysts predict that Agnico Eagle Mines Limited will post 12.39 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AEM. Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Royal Bank Of Canada lowered their target price 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. JPMorgan Chase & Co. boosted their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Monday, May 4th. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Finally, Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and upped their price target for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $233.62.

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.