AlTi Global Inc. Has $5.35 Million Stock Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• AlTi Global Inc. increased its stake in Agnico Eagle Mines Limited by 299.5% during the first quarter, now holding 49,353 shares valued at approximately $5.35 million.
• Several institutional investors have also increased their positions in AEM, leading to a total of 68.34% of the company's stock being owned by these investors.
• Agnico Eagle Mines reported earnings of $1.94 per share for the last quarter, surpassing estimates and seeing a revenue increase of 35.6% year-over-year at $2.86 billion.

AlTi Global Inc. lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 299.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,353 shares of the mining company's stock after acquiring an additional 37,000 shares during the quarter. AlTi Global Inc.'s holdings in Agnico Eagle Mines were worth $5,346,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AEM. Brighton Jones LLC increased its stake in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after purchasing an additional 331 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Agnico Eagle Mines by 147.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,828 shares of the mining company's stock worth $143,000 after purchasing an additional 1,089 shares during the last quarter. Northern Trust Corp increased its stake in shares of Agnico Eagle Mines by 66.4% during the 4th quarter. Northern Trust Corp now owns 419,827 shares of the mining company's stock worth $32,835,000 after purchasing an additional 167,490 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth $387,000. Finally, Aptus Capital Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth $277,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

NYSE AEM traded up $3.54 during midday trading on Friday, hitting $151.93. The company had a trading volume of 3,101,573 shares, compared to its average volume of 2,331,528. 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 stock has a market cap of $76.39 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 1.02 and a beta of 0.45. The firm has a fifty day simple moving average of $129.88 and a two-hundred day simple moving average of $117.73. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $152.75.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target on the stock in a research note on Monday, June 30th. Bank of America increased their price target on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Zacks Research downgraded shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Finally, CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Five investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $136.90.

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.