CIBC Asset Management Inc Has $311.25 Million Position in Agnico Eagle Mines Limited (NYSE:AEM)

CIBC Asset Management Inc boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,658,691 shares of the mining company's stock after purchasing an additional 203,499 shares during the quarter. Agnico Eagle Mines comprises approximately 1.2% of CIBC Asset Management Inc's portfolio, making the stock its 23rd biggest position. CIBC Asset Management Inc owned approximately 1.14% of Agnico Eagle Mines worth $311,253,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AEM. Bruce G. Allen Investments LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $33,000. CVA Family Office LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $36,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Agnico Eagle Mines during the third quarter worth approximately $34,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter worth approximately $49,000. Finally, Anchor Investment Management LLC purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter worth approximately $55,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Shares of AEM stock traded down $3.62 during mid-day trading on Tuesday, reaching $65.01. The stock had a trading volume of 3,267,934 shares, compared to its average volume of 3,096,701. Agnico Eagle Mines Limited has a 12-month low of $43.22 and a 12-month high of $71.50. The company has a market cap of $32.47 billion, a P/E ratio of 68.43, a price-to-earnings-growth ratio of 0.71 and a beta of 1.11. The business has a 50-day simple moving average of $64.90 and a 200 day simple moving average of $56.32. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.16. The business had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The business's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 3.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AEM shares. Citigroup upped their price target on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, April 30th. Scotiabank upped their price target on Agnico Eagle Mines from $71.00 to $81.00 and gave the stock a "sector outperform" rating in a research note on Thursday, May 23rd. Jefferies Financial Group upped their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a "hold" rating in a research note on Monday, April 22nd. National Bank Financial reiterated an "outperform overweight" rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Finally, TD Securities increased their price objective on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a "buy" rating in a research report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $72.22.

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.