Asset One Wealth Management LLC Invests $1.09 Million in Agnico Eagle Mines Limited $AEM

Key Points

• Asset One Wealth Management purchased 7,691 shares of Agnico Eagle Mines in the second quarter, valued at approximately $1.09 million. Institutional investors collectively own 68.34% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy, four Hold, and one Sell rating. The consensus rating is Moderate Buy, with an average price target of $226.
• Agnico Eagle reported quarterly EPS of $3.05, exceeding estimates of $2.89, while revenue reached $3.77 billion and rose 35% year over year. The company also posted a 40.44% net margin and 22.04% return on equity.

Asset One Wealth Management LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,691 shares of the mining company's stock, valued at approximately $1,094,000.

A number of other hedge funds have also recently bought and sold shares of the business. Capital World Investors grew its position in shares of 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. Vanguard Group Inc. boosted its stake in Agnico Eagle Mines by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company's stock valued at $3,557,772,000 after acquiring an additional 309,717 shares during the last quarter. Van ECK Associates Corp boosted its stake in Agnico Eagle Mines by 21.6% during 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 during the last quarter. TD Asset Management Inc boosted its stake in 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 last quarter. Finally, Deutsche Bank AG acquired a new position in Agnico Eagle Mines during the 2nd quarter worth $1,362,158,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Analyst Upgrades and Downgrades

AEM has been the topic of a number of research analyst reports. Weiss Ratings downgraded Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Citigroup lowered their price target on Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating for the company in a report on Monday, July 27th. Bank of America dropped their price target on Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group upgraded Agnico Eagle Mines from a "hold" rating to a "buy" rating and raised their price objective for the stock from $187.00 to $200.00 in a research note on Monday, July 6th. Finally, Wall Street Zen downgraded shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.00.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $217.02 on Monday. The company has a market cap of $110.01 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61. The firm has a fifty day moving average of $161.03 and a 200-day moving average of $186.68. Agnico Eagle Mines Limited has a 1 year low of $133.80 and a 1 year 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 posted its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.89 by $0.16. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. Agnico Eagle Mines's revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.94 EPS. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.

Agnico Eagle Mines 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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