Agnico Eagle Mines Limited $AEM Shares Purchased by Doheny Asset Management CA

Key Points

• Doheny Asset Management CA nearly doubled its Agnico Eagle Mines position in the fourth quarter, increasing its stake by 97.1% to 28,804 shares valued at about $4.88 million.
• Agnico Eagle Mines reported strong quarterly results, with earnings per share of $3.40 and revenue of $4.0 billion, both above analyst expectations. Revenue also jumped 66.1% from the same quarter a year earlier.
• Analyst sentiment remains broadly positive despite some rating cuts: the stock carries a Moderate Buy consensus with an average target price of $236.08, and Barclays recently initiated coverage with an Overweight rating and a $213 target.

Doheny Asset Management CA increased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 97.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,804 shares of the mining company's stock after purchasing an additional 14,192 shares during the quarter. Agnico Eagle Mines accounts for 3.0% of Doheny Asset Management CA's holdings, making the stock its 9th largest holding. Doheny Asset Management CA's holdings in Agnico Eagle Mines were worth $4,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital World Investors grew its stake in Agnico Eagle Mines by 2.8% during the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company's stock worth $3,618,730,000 after purchasing an additional 572,473 shares in the last quarter. Vanguard Group Inc. grew its stake in Agnico Eagle Mines by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company's stock worth $3,557,772,000 after purchasing an additional 309,717 shares in the last quarter. TD Asset Management Inc grew its stake in Agnico Eagle Mines by 1.7% during the 4th quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company's stock worth $1,641,239,000 after purchasing an additional 165,263 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Agnico Eagle Mines by 3.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,589,745 shares of the mining company's stock worth $1,447,494,000 after purchasing an additional 292,949 shares in the last quarter. Finally, Norges Bank acquired a new position in Agnico Eagle Mines during the 4th quarter worth $1,367,783,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 0.2%

NYSE:AEM opened at $163.39 on Monday. The stock has a 50-day simple moving average of $193.89 and a 200-day simple moving average of $194.74. The stock has a market cap of $81.77 billion, a P/E ratio of 15.36, a P/E/G ratio of 3.60 and a beta of 0.56. Agnico Eagle Mines Limited has a 1 year low of $114.60 and a 1 year high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.21. The business had revenue of $4 billion during the quarter, compared to analysts' expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business's quarterly revenue was up 66.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.53 EPS. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 13.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on AEM. Weiss Ratings cut Agnico Eagle Mines from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, May 13th. Barclays began coverage on Agnico Eagle Mines in a research note on Thursday, May 21st. They set an "overweight" rating and a $213.00 target price for the company. Wall Street Zen cut Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 11th. JPMorgan Chase & Co. upped their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Finally, Erste Group Bank cut Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research report on Tuesday, March 24th. One 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $236.08.

Key Agnico Eagle Mines News

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Agnico Eagle approved an investment decision for its Hope Bay project, a new underground mine with a 6,000-tonne-per-day processing facility, which could support longer-term production growth. Agnico Eagle Mines (AEM) Approves Investment for Hope Bay Gold Project
• Positive Sentiment: CIBC lifted its price target on Agnico Eagle Mines and kept an Outperform rating, signaling confidence in the company’s operating strength and future upside. Is Agnico Eagle Mines Limited (AEM) among the Best Silver and Copper Stocks to Buy for the EV Transition?
• Positive Sentiment: Recent market coverage highlighted strong analyst support, hedge fund interest, and favorable long-term growth investments, which may be reinforcing bullish sentiment around the stock. Agnico Eagle Mines (AEM) Ends May With Strong Analyst Support
• Neutral Sentiment: Agnico Eagle entered a $5 million royalty purchase agreement with Prism Resources tied to properties in Ontario; the deal is modest in size and appears more like a capital structure/royalty cleanup transaction than a major operational shift. AGNICO EAGLE UPDATES EARLY WARNING REPORT IN RESPECT OF PRISM RESOURCES INC.
• Neutral Sentiment: Several articles noted that AEM has been trending among retail investors and outpacing the broader market, but these pieces were mostly commentary rather than new fundamental information. Agnico Eagle Mines (AEM) Outpaces Stock Market Gains: What You Should Know

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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