Quadcap Wealth Management LLC Has $1.25 Million Stake in Agnico Eagle Mines Limited $AEM

Key Points

• Quadcap Wealth Management LLC reduced its stake in Agnico Eagle Mines by 34.5%, holding 11,563 shares valued at approximately $1,254,000 after selling 6,094 shares during the recent quarter.
• Multiple investment analysts have given positive ratings for Agnico Eagle Mines, with Royal Bank of Canada increasing the target price from $115.00 to $145.00 and giving an "outperform" rating.
• Agnico Eagle Mines reported strong quarterly earnings with $1.94 earnings per share, surpassing expectations of $1.83, and noted a 35.6% increase in revenue year-over-year.

Quadcap Wealth Management LLC lowered its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 34.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,563 shares of the mining company's stock after selling 6,094 shares during the period. Quadcap Wealth Management LLC's holdings in Agnico Eagle Mines were worth $1,254,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. FORA Capital LLC bought a new position in shares of Agnico Eagle Mines in the first quarter valued at about $2,367,000. WealthTrust Axiom LLC grew its stake in Agnico Eagle Mines by 0.9% in the 1st quarter. WealthTrust Axiom LLC now owns 47,075 shares of the mining company's stock valued at $5,103,000 after buying an additional 414 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Agnico Eagle Mines by 14.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,049,196 shares of the mining company's stock worth $113,657,000 after acquiring an additional 135,260 shares during the last quarter. Synovus Financial Corp bought a new stake in shares of Agnico Eagle Mines during the first quarter worth approximately $237,000. Finally, Oak Harvest Investment Services grew its position in shares of Agnico Eagle Mines by 7.9% in the first quarter. Oak Harvest Investment Services now owns 110,489 shares of the mining company's stock valued at $11,978,000 after purchasing an additional 8,106 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Analyst Upgrades and Downgrades

AEM has been the subject of several research reports. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Royal Bank Of Canada lifted their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price for the company in a report on Monday, June 30th. Finally, Bank of America lifted their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Five research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines Price Performance

Shares of AEM stock traded up $5.12 during trading hours on Friday, reaching $144.23. The company's stock had a trading volume of 2,801,181 shares, compared to its average volume of 2,361,428. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $144.78. The firm's 50 day simple moving average is $126.63 and its 200-day simple moving average is $115.68. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $72.52 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 0.95 and a beta of 0.44.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the company earned $1.07 EPS. Agnico Eagle Mines's revenue for the quarter was up 35.6% on a year-over-year basis. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.