Agnico Eagle Mines Limited $AEM Position Lifted by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd increased its Agnico Eagle Mines stake by 209.9% in the fourth quarter, buying 7,850 more shares and bringing its total to 11,590 shares worth about $1.97 million.
• Institutional interest remains high, with 68.34% of Agnico Eagle Mines shares owned by institutions, and several other funds also modestly added to their positions.
• The company reported strong quarterly results, including EPS of $3.40 versus the $3.19 consensus and revenue up 66.1% year over year, while analysts currently hold a Moderate Buy consensus with an average target price of $236.08.

Dynamic Technology Lab Private Ltd raised its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 209.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,590 shares of the mining company's stock after acquiring an additional 7,850 shares during the quarter. Agnico Eagle Mines makes up 0.4% of Dynamic Technology Lab Private Ltd's portfolio, making the stock its 23rd biggest position. Dynamic Technology Lab Private Ltd's holdings in Agnico Eagle Mines were worth $1,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Salvus Wealth Management LLC lifted its stake in shares of Agnico Eagle Mines by 0.9% in the fourth quarter. Salvus Wealth Management LLC now owns 6,301 shares of the mining company's stock worth $1,068,000 after buying an additional 57 shares during the last quarter. Brookwood Investment Group LLC lifted its stake in shares of Agnico Eagle Mines by 4.5% in the fourth quarter. Brookwood Investment Group LLC now owns 1,361 shares of the mining company's stock worth $231,000 after buying an additional 58 shares during the last quarter. Baron Wealth Management LLC lifted its stake in shares of Agnico Eagle Mines by 3.2% in the fourth quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company's stock worth $319,000 after buying an additional 59 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Agnico Eagle Mines by 1.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company's stock worth $893,000 after buying an additional 59 shares during the last quarter. Finally, Baker Ellis Asset Management LLC lifted its stake in shares of Agnico Eagle Mines by 0.8% in the fourth quarter. Baker Ellis Asset Management LLC now owns 7,550 shares of the mining company's stock worth $1,280,000 after buying an additional 63 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Erste Group Bank cut shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research note on Tuesday, March 24th. JPMorgan Chase & Co. boosted their price objective on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research note on Monday, May 4th. Barclays assumed coverage on shares of Agnico Eagle Mines in a research note on Thursday, May 21st. They issued an "overweight" rating and a $213.00 price objective for the company. Finally, TD boosted their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $236.08.

Agnico Eagle Mines Trading Up 3.1%

Shares of AEM stock opened at $162.70 on Friday. Agnico Eagle Mines Limited has a 1 year low of $114.60 and a 1 year high of $255.24. The firm's fifty day simple moving average is $190.08 and its 200 day simple moving average is $194.36. The firm has a market capitalization of $81.43 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 3.46 and a beta of 0.56. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm posted $1.53 earnings per share. Agnico Eagle Mines's revenue was up 66.1% compared to the same quarter last year. As a group, sell-side analysts predict that Agnico Eagle Mines Limited will post 13.2 EPS for the current year.

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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