Bamco Inc. NY Invests $1.88 Million in Agnico Eagle Mines Limited $AEM

Bamco Inc. NY purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,129 shares of the mining company's stock, valued at approximately $1,882,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AEM. Acumen Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at approximately $26,000. Dunhill Financial LLC acquired a new position in Agnico Eagle Mines in the second quarter valued at about $31,000. Fiduciary Financial Advisors acquired a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at approximately $32,000. Jessup Wealth Management Inc bought a new position in shares of Agnico Eagle Mines during the fourth quarter worth $35,000. Finally, Allied Private Wealth LLC bought a new position in Agnico Eagle Mines during the second quarter worth about $36,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Trading Up 0.6%

NYSE AEM opened at $215.35 on Friday. The business's 50-day moving average price is $164.70 and its two-hundred day moving average price is $187.31. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $109.16 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.66 and a beta of 0.60. Agnico Eagle Mines Limited has a 12 month low of $134.38 and a 12 month high of $255.24.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the firm earned $1.94 earnings per share. Agnico Eagle Mines's quarterly revenue was up 35.0% on a year-over-year basis. On average, analysts expect that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AEM. JPMorgan Chase & Co. upped their target price on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Scotia decreased their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating for the company in a research note on Friday, July 3rd. Jefferies Financial Group raised Agnico Eagle Mines from a "hold" rating to a "buy" rating and boosted their price target for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Citigroup dropped their price objective on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, July 27th. Finally, Canadian Imperial Bank of Commerce set a $285.00 price target on Agnico Eagle Mines in a research note on Thursday, July 16th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $226.00.

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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