Corient Private Wealth LP Invests $7.12 Million in Agnico Eagle Mines Limited $AEM

Key Points

• Corient Private Wealth purchased 45,899 Agnico Eagle Mines shares during the second quarter, valued at approximately $7.12 million. Institutional investors and hedge funds collectively own 68.34% of the company.
• Agnico Eagle reported quarterly EPS of $3.05, exceeding analysts’ $2.89 estimate, while revenue rose 35% year over year to $3.77 billion. The company posted a 40.44% net margin and 22.04% return on equity.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $226, although several firms recently reduced their targets.

Corient Private Wealth LP bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 45,899 shares of the mining company's stock, valued at approximately $7,120,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AEM. Acumen Wealth Advisors LLC purchased a new position in Agnico Eagle Mines during the fourth quarter worth approximately $26,000. Dunhill Financial LLC purchased a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $31,000. Fiduciary Financial Advisors purchased a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $32,000. Jessup Wealth Management Inc acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Finally, Allied Private Wealth LLC acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $206.41 on Monday. The stock has a market capitalization of $104.63 billion, a P/E ratio of 17.66, a PEG ratio of 2.56 and a beta of 0.61. The business has a 50 day simple moving average of $165.50 and a two-hundred day simple moving average of $187.28. Agnico Eagle Mines Limited has a 12 month low of $134.38 and a 12 month high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02.

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 firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the company posted $1.94 earnings per share. The business's revenue was up 35.0% on a year-over-year basis. As a group, analysts predict that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AEM shares. Citigroup decreased their target price on 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. Bank of America cut their price target on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Scotiabank reduced their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. Wall Street Zen downgraded shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Finally, ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $226.00.

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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