Annex Advisory Services LLC Grows Stock Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Annex Advisory Services increased its Agnico Eagle Mines stake by 70.5% in the second quarter, adding 11,995 shares to own 29,007 shares valued at approximately $4.5 million. Institutional investors collectively hold 68.34% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $226.00; ratings range from Buy to Sell, with recent targets spanning $188 to $285.
• Agnico Eagle reported quarterly EPS of $3.05, exceeding estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. Shares opened at $182.03, with a market capitalization of about $92.25 billion.

Annex Advisory Services LLC lifted its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 70.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,007 shares of the mining company's stock after acquiring an additional 11,995 shares during the quarter. Annex Advisory Services LLC's holdings in Agnico Eagle Mines were worth $4,500,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AEM. Acumen Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines in the fourth quarter valued at $26,000. Jessup Wealth Management Inc purchased a new position in shares of Agnico Eagle Mines during the 4th quarter valued at about $35,000. University of Texas Texas AM Investment Management Co. lifted its holdings in shares of Agnico Eagle Mines by 64.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company's stock valued at $39,000 after buying an additional 90 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at about $39,000. Finally, Horizon Investments LLC lifted its holdings in shares of Agnico Eagle Mines by 129.6% in the 3rd quarter. Horizon Investments LLC now owns 248 shares of the mining company's stock valued at $42,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AEM. Weiss Ratings lowered Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Jefferies Financial Group raised Agnico Eagle Mines from a "hold" rating to a "buy" rating and boosted their price target for the company from $187.00 to $200.00 in a report on Monday, July 6th. Wall Street Zen lowered Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Barclays dropped their price objective on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 15th. Finally, Canadian Imperial Bank of Commerce set a $285.00 target price on shares of Agnico Eagle Mines in a report on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of "Moderate Buy" and a consensus target price of $226.00.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $182.03 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a twelve month low of $130.04 and a twelve month high of $255.24. The business has a 50-day moving average price of $155.86 and a 200 day moving average price of $187.49. The firm has a market cap of $92.25 billion, a PE ratio of 15.57, a P/E/G ratio of 2.22 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly 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. 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 quarter in the prior year, the business posted $1.94 earnings per share. Agnico Eagle Mines's revenue for the quarter was up 35.0% on a year-over-year basis. Sell-side analysts predict that Agnico Eagle Mines Limited will post 11.68 earnings per share for the current fiscal year.

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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