Almitas Capital LLC Makes New $1.25 Million Investment in Agnico Eagle Mines Limited $AEM

Key Points

• Almitas Capital acquired 8,035 Agnico Eagle Mines shares worth approximately $1.25 million in the second quarter. Institutional investors and hedge funds collectively own 68.34% of the company.
• Agnico Eagle reported quarterly EPS of $3.05, exceeding estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. The company posted a 40.44% net margin and 22.04% return on equity.
• Analysts maintain a “Moderate Buy” consensus rating, with 12 Buy, four Hold and one Sell rating and an average price target of $226.00.

Almitas Capital LLC acquired a new position 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 8,035 shares of the mining company's stock, valued at approximately $1,246,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AEM. Capital World Investors grew its position in Agnico Eagle Mines by 2.8% during the fourth quarter. Capital World Investors now owns 21,338,277 shares of the mining company's stock worth $3,618,730,000 after buying an additional 572,473 shares in the last quarter. Van ECK Associates Corp raised its holdings in Agnico Eagle Mines by 21.6% in the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company's stock valued at $2,920,258,000 after acquiring an additional 3,062,705 shares in the last quarter. TD Asset Management Inc lifted its position in shares of 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 valued at $1,641,239,000 after acquiring an additional 165,263 shares during the period. Deutsche Bank AG bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at $1,362,158,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Agnico Eagle Mines by 4.0% during the 4th quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company's stock worth $1,489,509,000 after purchasing an additional 332,797 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $215.35 on Friday. The firm's fifty day moving average price is $164.70 and its two-hundred day moving average price is $187.31. The stock has a market cap of $109.16 billion, a PE ratio of 18.42, a PEG ratio of 2.66 and a beta of 0.60. Agnico Eagle Mines Limited has a fifty-two week low of $134.38 and a fifty-two 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 issued its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $0.16. The business had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The business's revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 EPS. On average, equities analysts expect that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AEM shares. JPMorgan Chase & Co. boosted their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Wall Street Zen downgraded shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Bank of America decreased their target price on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce set a $285.00 target price on shares of Agnico Eagle Mines in a research report on Thursday, July 16th. Finally, Scotiabank cut their price target on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Moderate Buy" and an average target price of $226.00.

About Agnico Eagle Mines

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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