Alpine Woods Capital Investors LLC Acquires New Position in Agnico Eagle Mines Limited $AEM

Key Points

• Alpine Woods Capital Investors acquired 48,629 shares of Agnico Eagle Mines in the second quarter, valued at approximately $7.5 million. The position represents about 1.6% of Alpine Woods’ portfolio, while institutional investors collectively own 68.34% of the company.
• Agnico Eagle reported quarterly adjusted earnings of $3.05 per share, exceeding the $2.89 consensus estimate, while revenue rose 35% year over year to $3.77 billion. The company posted a 40.44% net margin and analysts expect full-year earnings of $11.56 per share.
• Wall Street maintains a generally positive outlook, with 12 Buy, four Hold and one Sell rating. The stock has a consensus “Moderate Buy” rating and an average price target of $226, compared with a reported trading price of $186.79.

Alpine Woods Capital Investors LLC acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 48,629 shares of the mining company's stock, valued at approximately $7,544,000. Agnico Eagle Mines accounts for about 1.6% of Alpine Woods Capital Investors LLC's portfolio, making the stock its 13th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Acumen Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth $26,000. Dunhill Financial LLC acquired a new position in shares of Agnico Eagle Mines during the second quarter valued at about $31,000. Jessup Wealth Management Inc acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at about $35,000. Allied Private Wealth LLC purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at approximately $36,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $39,000. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Trading Down 1.1%

NYSE AEM opened at $186.79 on Wednesday. Agnico Eagle Mines Limited has a 1 year low of $130.04 and a 1 year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The company has a market capitalization of $94.68 billion, a PE ratio of 15.98, a P/E/G ratio of 2.32 and a beta of 0.61. The company has a fifty day moving average of $157.75 and a 200 day moving average of $186.40.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the firm earned $1.94 EPS. The firm's revenue for the quarter was up 35.0% compared to the same quarter last year. Research analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. TD upped their price target on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Scotiabank lowered their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating for the company in a research note on Tuesday, July 14th. Scotia dropped 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 report on Friday, July 3rd. UBS Group cut their target price on Agnico Eagle Mines from $210.00 to $170.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. Finally, Bank of America reduced their target price 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. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $226.00.

Agnico Eagle Mines Company 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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