Ballentine Partners LLC Invests $205,000 in Agnico Eagle Mines Limited $AEM

Key Points

• Ballentine Partners LLC has invested approximately $205,000 in Agnico Eagle Mines Limited, acquiring 1,725 shares of the mining company during the 2nd quarter.
• Agnico Eagle Mines achieved earnings of $1.94 EPS in its latest quarter, surpassing analysts' expectations of $1.83, with revenue of $2.86 billion.
• Institutional investors now own 68.34% of Agnico Eagle Mines' stock, highlighting strong interest in the company from large financial entities.

Ballentine Partners LLC bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,725 shares of the mining company's stock, valued at approximately $205,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC bought a new stake in Agnico Eagle Mines during the 1st quarter valued at approximately $226,000. Bank of New York Mellon Corp raised its stake in Agnico Eagle Mines by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock valued at $52,613,000 after purchasing an additional 5,717 shares during the period. Private Trust Co. NA raised its stake in Agnico Eagle Mines by 454.9% during the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after purchasing an additional 232 shares during the period. Golden State Wealth Management LLC bought a new stake in Agnico Eagle Mines during the 1st quarter valued at approximately $34,000. Finally, OneDigital Investment Advisors LLC bought a new stake in Agnico Eagle Mines during the 1st quarter valued at approximately $234,000. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $167.03 on Tuesday. The stock has a market cap of $83.98 billion, a price-to-earnings ratio of 28.41, a price-to-earnings-growth ratio of 1.10 and a beta of 0.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The stock has a 50 day moving average price of $142.02 and a 200-day moving average price of $124.59. Agnico Eagle Mines Limited has a one year low of $75.17 and a one year high of $168.55.

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 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. The firm had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company's quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS. Equities analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Bank of America lifted their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Royal Bank Of Canada lifted their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, Zacks Research downgraded Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Five research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $141.40.

Agnico Eagle Mines 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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