Alpine Woods Capital Investors LLC Has $8.60 Million Position in Agnico Eagle Mines Limited $AEM

Key Points

• Alpine Woods Capital Investors LLC increased its position in Agnico Eagle Mines Limited by 6.6% in Q2, owning 72,346 shares valued at approximately $8.6 million.
• Agnico Eagle Mines reported its earnings on July 30, achieving $1.94 per share, surpassing estimates, with a revenue increase of 35.6% year-over-year.
• The stock currently holds a consensus rating of "Buy" with a target price of $162.10, following several analyst upgrades, including a strong-buy rating from Zacks Research.

Alpine Woods Capital Investors LLC boosted its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 6.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,346 shares of the mining company's stock after buying an additional 4,484 shares during the period. Agnico Eagle Mines makes up approximately 2.0% of Alpine Woods Capital Investors LLC's portfolio, making the stock its 7th biggest position. Alpine Woods Capital Investors LLC's holdings in Agnico Eagle Mines were worth $8,604,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Agnico Eagle Mines by 1.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock worth $618,000 after purchasing an additional 85 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Agnico Eagle Mines by 31.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock worth $40,000 after purchasing an additional 87 shares in the last quarter. Continuum Advisory LLC increased its holdings in Agnico Eagle Mines by 47.0% during the 1st quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock worth $43,000 after purchasing an additional 127 shares in the last quarter. US Bancorp DE increased its holdings in Agnico Eagle Mines by 2.0% during the 1st quarter. US Bancorp DE now owns 6,908 shares of the mining company's stock worth $749,000 after purchasing an additional 138 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Agnico Eagle Mines by 8.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,871 shares of the mining company's stock worth $223,000 after purchasing an additional 142 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on AEM. Weiss Ratings reissued a "buy (a)" rating on shares of Agnico Eagle Mines in a report on Wednesday, October 8th. Zacks Research raised Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. UBS Group boosted their price objective on Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Bank of America boosted their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Six research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $162.10.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $172.11 on Tuesday. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $172.29. The stock's 50 day moving average price is $150.38 and its 200-day moving average price is $128.96. The company has a market capitalization of $86.54 billion, a PE ratio of 29.27, a PEG ratio of 1.09 and a beta of 0.46. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the business earned $1.07 EPS. The company's revenue was up 35.6% compared to the same quarter last year. On average, equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Company Profile

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.

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