43,472 Shares in Agnico Eagle Mines Limited $AEM Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 43,472 shares of Agnico Eagle Mines in the second quarter, valued at approximately $6.74 million. Institutional investors collectively own 68.34% of the company.
• Agnico Eagle reported quarterly EPS of $3.05, exceeding analysts’ $2.89 estimate, while revenue reached $3.77 billion and rose 35% year over year. The company posted a 40.44% net margin and 22.04% return on equity.
• Analyst sentiment remains favorable, with 12 Buy, four Hold, and one Sell rating; the stock has a consensus “Moderate Buy” rating and an average price target of $226.

Empowered Funds LLC acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 43,472 shares of the mining company's stock, valued at approximately $6,744,000.

Other large investors have also recently bought and sold shares of the company. Acumen Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines in the fourth quarter worth $26,000. Dunhill Financial LLC acquired a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at $31,000. Fiduciary Financial Advisors acquired a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at $32,000. Jessup Wealth Management Inc acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $35,000. Finally, Allied Private Wealth LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at $36,000. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Trading Up 0.1%

NYSE AEM opened at $206.41 on Monday. Agnico Eagle Mines Limited has a 52 week low of $134.38 and a 52 week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The stock's 50 day moving average price is $165.50 and its two-hundred day moving average price is $187.28. The stock has a market capitalization of $104.63 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.56 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 40.44% and a return on equity of 22.04%. The firm's revenue was up 35.0% compared to the same quarter last year. During the same period last year, the company earned $1.94 earnings per share. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AEM has been the topic of several research analyst reports. ATB Cormark Capital Markets raised Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research note on Monday, May 4th. Barclays decreased their target price on Agnico Eagle Mines from $210.00 to $188.00 and set an "overweight" rating for the company in a research note on Wednesday, July 15th. Canadian Imperial Bank of Commerce set a $285.00 price target on Agnico Eagle Mines in a report on Thursday, July 16th. Scotiabank dropped their price target on Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, July 14th. Finally, Wall Street Zen cut Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $226.00.

Agnico Eagle Mines Company 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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