10,354 Shares in Agnico Eagle Mines Limited $AEM Purchased by Performance Wealth Partners LLC

Key Points

• Performance Wealth Partners LLC acquired 10,354 Agnico Eagle Mines shares during the second quarter, valued at approximately $1.606 million. Institutional investors collectively own 68.34% of the company.
• Agnico Eagle reported quarterly EPS of $3.05, exceeding estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. The company posted a 40.44% net margin and 22.04% return on equity.
• Analysts maintain a “Moderate Buy” consensus rating, with 12 Buy, four Hold, and one Sell ratings and an average price target of $226.

Performance Wealth Partners LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,354 shares of the mining company's stock, valued at approximately $1,606,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG acquired a new stake in Agnico Eagle Mines during the 2nd quarter valued at $1,362,158,000. Perigon Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines in the second quarter valued at $1,269,000. Phillips Wealth Planners LLC acquired a new stake in shares of Agnico Eagle Mines during the second quarter valued at $235,000. OneDigital Investment Advisors LLC purchased a new stake in Agnico Eagle Mines during the 2nd quarter worth about $419,000. Finally, Plato Investment Management Ltd purchased a new stake in Agnico Eagle Mines during the 2nd quarter worth about $278,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $189.12 on Tuesday. Agnico Eagle Mines Limited has a 1 year low of $130.04 and a 1 year high of $255.24. The firm has a 50 day moving average price of $157.21 and a 200 day moving average price of $186.66. The company has a market cap of $95.86 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 2.32 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.16. The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business's quarterly revenue was up 35.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.94 EPS. Sell-side analysts predict that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on AEM. Bank of America reduced their target price on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. UBS Group cut their price objective on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Canadian Imperial Bank of Commerce set a $285.00 target price on shares of Agnico Eagle Mines in a research report on Thursday, July 16th. TD boosted their price target on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Finally, ATB Cormark Capital Markets raised Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research note on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Moderate Buy" and a consensus target price of $226.00.

About Agnico Eagle Mines

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.

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