Deutsche Bank AG Takes $1.36 Billion Position in Agnico Eagle Mines Limited $AEM

Key Points

• Deutsche Bank acquired 8.78 million shares of Agnico Eagle Mines in the second quarter, valued at approximately $1.36 billion and representing a 1.73% stake.
• Agnico Eagle reported quarterly EPS of $3.05, beating estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. The stock was trading at $189.12, up 1.4%.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $226, despite several recent target cuts and one “Strong Sell” downgrade.

Deutsche Bank AG acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,780,754 shares of the mining company's stock, valued at approximately $1,362,158,000. Deutsche Bank AG owned 1.73% of Agnico Eagle Mines as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AEM. Brighton Jones LLC boosted its stake in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after acquiring an additional 331 shares in the last quarter. AQR Capital Management LLC increased its position in Agnico Eagle Mines by 36.4% during the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company's stock worth $2,150,000 after purchasing an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of Agnico Eagle Mines by 57.2% in the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company's stock valued at $379,000 after buying an additional 1,160 shares during the last quarter. Rhumbline Advisers raised its holdings in Agnico Eagle Mines by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company's stock valued at $215,000 after acquiring an additional 134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Agnico Eagle Mines by 25.2% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company's stock worth $110,000 after buying an additional 187 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 1.4%

NYSE AEM opened at $189.12 on Tuesday. Agnico Eagle Mines Limited has a one year low of $130.04 and a one year high of $255.24. The company's 50 day moving average price is $157.21 and its 200 day moving average price is $186.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The firm has a market capitalization of $95.86 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 2.32 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the firm earned $1.94 earnings per share. Agnico Eagle Mines's revenue for the quarter was up 35.0% on a year-over-year basis. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on AEM. Citigroup dropped their price objective on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, July 27th. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a "hold" rating to a "buy" rating and boosted their target price for the company from $187.00 to $200.00 in a report on Monday, July 6th. Scotia dropped their price target on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating for the company in a research report on Friday, July 3rd. Zacks Research downgraded shares of Agnico Eagle Mines from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. Finally, Weiss Ratings lowered shares of Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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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