Beacon Pointe Advisors LLC bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 63,797 shares of the mining company's stock, valued at approximately $9,897,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Acumen Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines during the fourth quarter valued at about $26,000. Dunhill Financial LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter worth approximately $31,000. Fiduciary Financial Advisors acquired a new stake in shares of Agnico Eagle Mines during the second quarter valued at approximately $32,000. Jessup Wealth Management Inc purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. Finally, Allied Private Wealth LLC purchased a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 68.34% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on AEM. Weiss Ratings downgraded Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Royal Bank Of Canada decreased their target price on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a "sector perform" rating for the company in a research note on Thursday, July 9th. Bank of America lowered their price target on Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Scotia cut their price objective 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. Finally, Canadian Imperial Bank of Commerce set a $285.00 price objective on shares of Agnico Eagle Mines in a research report on Thursday, July 16th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $226.00.
Check Out Our Latest Stock Analysis on AEM
Agnico Eagle Mines Trading Down 4.2%
Shares of AEM stock opened at $206.41 on Friday. The firm has a fifty day moving average of $165.50 and a 200-day moving average of $187.44. The stock has a market cap of $104.63 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 2.68 and a beta of 0.60. 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.
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 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the previous year, the firm posted $1.94 earnings per share. The firm's revenue for the quarter was up 35.0% on a year-over-year basis. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.
About Agnico Eagle Mines
(
Free Report)
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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