Agnico Eagle Mines Limited (NYSE:AEM) Shares Purchased by Pinnacle Wealth Management Group Inc.

Pinnacle Wealth Management Group Inc. lifted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,282 shares of the mining company’s stock after acquiring an additional 750 shares during the quarter. Agnico Eagle Mines accounts for approximately 1.2% of Pinnacle Wealth Management Group Inc.’s holdings, making the stock its 26th largest position. Pinnacle Wealth Management Group Inc.’s holdings in Agnico Eagle Mines were worth $1,956,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AEM. Cadinha & Co. LLC boosted its stake in Agnico Eagle Mines by 1,178.2% in the third quarter. Cadinha & Co. LLC now owns 232,318 shares of the mining company’s stock valued at $18,716,000 after acquiring an additional 214,143 shares during the period. Cypress Wealth Services LLC acquired a new position in Agnico Eagle Mines during the 3rd quarter valued at approximately $225,000. Sanibel Captiva Trust Company Inc. acquired a new stake in Agnico Eagle Mines in the third quarter worth $289,000. Gunderson Capital Management Inc. bought a new stake in Agnico Eagle Mines in the third quarter valued at $3,583,000. Finally, Strategic Wealth Partners Ltd. acquired a new position in shares of Agnico Eagle Mines during the third quarter valued at $201,000. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group started coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price objective on the stock. Scotiabank boosted their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. BMO Capital Markets lowered their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. Royal Bank of Canada boosted their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, CIBC raised their price target on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Trading Up 0.1 %

AEM traded up $0.04 during trading on Friday, reaching $79.46. The company had a trading volume of 1,478,350 shares, compared to its average volume of 2,672,182. The firm’s 50-day simple moving average is $79.93 and its 200 day simple moving average is $71.51. The company has a market cap of $39.87 billion, a price-to-earnings ratio of 64.60, a PEG ratio of 0.71 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. Agnico Eagle Mines Limited has a 12-month low of $44.37 and a 12-month high of $85.14.

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

About Agnico Eagle Mines

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.