Riverwater Partners LLC Acquires 1,067 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Riverwater Partners LLC raised its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 32.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,397 shares of the mining company’s stock after purchasing an additional 1,067 shares during the quarter. Riverwater Partners LLC’s holdings in Agnico Eagle Mines were worth $359,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Continuum Advisory LLC raised its position in shares of Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after purchasing an additional 363 shares during the period. Stephens Consulting LLC bought a new position in shares of Agnico Eagle Mines during the first quarter valued at about $30,000. Abich Financial Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $32,000. FSC Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the third quarter valued at approximately $32,000. Finally, McClarren Financial Advisors Inc. raised its holdings in shares of Agnico Eagle Mines by 684.6% during the third quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after acquiring an additional 445 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 0.7 %

AEM stock opened at $88.64 on Thursday. The stock has a market capitalization of $44.34 billion, a P/E ratio of 93.31, a P/E/G ratio of 0.71 and a beta of 1.10. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $88.64. The firm has a 50-day simple moving average of $81.45 and a 200-day simple moving average of $72.96. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the company earned $0.65 EPS. Equities analysts forecast that Agnico Eagle Mines Limited will post 3.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AEM shares. UBS Group started coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective on the stock. Jefferies Financial Group raised 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. TD Securities increased their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. Finally, CIBC upped their price objective on Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines 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.