111 Capital Invests $529,000 in Agnico Eagle Mines Limited $AEM

Key Points

• 111 Capital has invested approximately $529,000 in Agnico Eagle Mines Limited, acquiring 4,439 shares of the mining company during the second quarter.
• Several institutional investors have increased their holdings in Agnico Eagle Mines, with notable increases from TD Asset Management and Canada Pension Plan Investment Board, now representing over 68% of the company's total stock ownership.
• Agnico Eagle Mines reported earnings of $1.94 per share, exceeding analyst expectations, and has received positive ratings from multiple analysts, including a recent upgrade to "strong-buy" by TD Securities.

111 Capital bought a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,439 shares of the mining company's stock, valued at approximately $529,000.

Several other hedge funds and other institutional investors have also modified their holdings of AEM. TD Asset Management Inc boosted its position in Agnico Eagle Mines by 42.8% during the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after purchasing an additional 2,709,005 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Agnico Eagle Mines by 57.4% during the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock valued at $254,029,000 after purchasing an additional 854,924 shares during the last quarter. Nuveen LLC acquired a new stake in Agnico Eagle Mines during the first quarter valued at $85,926,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Agnico Eagle Mines by 11.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock valued at $728,214,000 after purchasing an additional 673,400 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Agnico Eagle Mines by 3.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock valued at $1,457,160,000 after purchasing an additional 499,362 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $169.40 on Monday. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $171.45. The stock's 50-day moving average is $145.38 and its two-hundred day moving average is $126.37. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The firm has a market cap of $85.18 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The business's revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company earned $1.07 earnings per share. On average, analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AEM shares. UBS Group lifted their price objective on Agnico Eagle Mines from $125.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, September 19th. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective for the company in a research report on Monday, June 30th. Zacks Research raised Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. Finally, TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Seven investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of "Buy" and a consensus price target of $141.40.

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.

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