113,584 Shares in Agnico Eagle Mines Limited $AEM Bought by Carmignac Gestion

Key Points

• Carmignac Gestion bought 113,584 shares of Agnico Eagle Mines in the second quarter, valued at approximately $17.62 million. Institutional investors collectively own 68.34% of the company.
• Agnico Eagle reported quarterly earnings of $3.05 per share, beating analyst expectations of $2.89, while revenue rose 35% year over year to $3.77 billion.
• Analyst sentiment remains positive overall, with 12 Buy ratings, four Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $226.

Carmignac Gestion bought a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 113,584 shares of the mining company's stock, valued at approximately $17,620,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $26,000. Markowski Investments bought a new position in shares of Agnico Eagle Mines during the second quarter worth about $29,000. Dunhill Financial LLC acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at approximately $31,000. Fiduciary Financial Advisors bought a new stake in Agnico Eagle Mines in the 2nd quarter valued at approximately $32,000. Finally, Jessup Wealth Management Inc bought a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $35,000. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock traded down $2.99 during trading hours on Tuesday, hitting $201.74. The company had a trading volume of 1,249,409 shares, compared to its average volume of 2,801,394. The firm has a 50-day moving average of $170.74 and a 200 day moving average of $186.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The firm has a market cap of $102.26 billion, a PE ratio of 17.26, a PEG ratio of 2.55 and a beta of 0.67. Agnico Eagle Mines Limited has a one year low of $134.38 and a one year high of $255.24.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AEM shares. Jefferies Financial Group upgraded Agnico Eagle Mines from a "hold" rating to a "buy" rating and upped their target price for the stock from $187.00 to $200.00 in a report on Monday, July 6th. Wall Street Zen cut shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Scotia dropped their price target on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating on the stock in a research report on Friday, July 3rd. UBS Group cut their price target on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a "neutral" rating for the company in a research note on Tuesday, June 30th. Finally, Citigroup decreased their price objective on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, July 27th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $226.00.

Agnico Eagle Mines Profile

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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