Evoke Wealth LLC Has $4.88 Million Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Evoke Wealth LLC increased its stake in Agnico Eagle Mines by 25.9% in the fourth quarter, adding 5,930 shares to bring its total to 28,786 shares worth about $4.88 million.
• Institutional ownership remains high, with hedge funds and other investors holding 68.34% of Agnico Eagle Mines’ stock. Several smaller institutions also recently initiated or expanded positions.
• Analysts are generally constructive on the stock: the consensus rating is Moderate Buy, with 12 Buy ratings and a consensus price target of $236.08. The company also recently beat quarterly earnings expectations, reporting EPS of $3.40 versus estimates of $3.19.

Evoke Wealth LLC lifted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 25.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,786 shares of the mining company's stock after buying an additional 5,930 shares during the period. Evoke Wealth LLC's holdings in Agnico Eagle Mines were worth $4,880,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. MCF Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter worth $34,000. Abound Wealth Management raised its holdings in shares of Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company's stock worth $35,000 after buying an additional 104 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth $35,000. Caitlin John LLC acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter worth $36,000. Finally, Bangor Savings Bank acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth $37,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of recent research reports. Wall Street Zen cut Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 11th. Scotiabank reaffirmed an "outperform" rating and issued a $280.00 target price on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. UBS Group lowered their target price on Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating for the company in a report on Friday, March 27th. Barclays initiated coverage on Agnico Eagle Mines in a report on Thursday. They issued an "overweight" rating and a $213.00 target price for the company. Finally, ATB Cormark Capital Markets raised Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $236.08.

Trending Headlines about Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Agnico Eagle announced a major restart and expansion of its Hope Bay project in Nunavut, committing US$2.4 billion to build an underground gold mine and processing facility. The move supports future production growth and reinforces the company’s long-term development pipeline. Agnico Eagle Mines (AEM) To Begin Redevelopment Of The Hope Bay Mine With $2.4 Billion Investment
• Positive Sentiment: The company also expanded its stake in Wallbridge Mining by investing C$22.4 million, lifting ownership to about 19.9%. That investment could help advance Wallbridge’s Fenelon gold project and gives Agnico more exposure to additional Quebec gold assets. Agnico Eagle Expands Wallbridge Stake Through C$22.4M Investment
• Neutral Sentiment: Recent coverage highlighted Agnico Eagle’s strong earnings quality, cash-rich balance sheet, and profitability, which may support investor confidence but did not appear to be a new market-moving catalyst on its own. Agnico Eagle Earnings Call Highlights Cash-Rich Growth
• Negative Sentiment: Investors are also focusing on valuation and execution risk after a recent selloff, with shares down over the past month and quarter. The big Hope Bay commitment raises future growth potential, but it also increases capital spending expectations and near-term pressure on returns. Agnico Eagle: A 15 Percent Selloff In A Best-In-Class Gold Miner

Agnico Eagle Mines Trading Down 1.1%

Shares of AEM stock opened at $175.79 on Friday. The stock has a market cap of $87.98 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 3.88 and a beta of 0.58. The stock has a 50-day moving average of $197.96 and a 200-day moving average of $193.72. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 1-year low of $114.60 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. The company had revenue of $4 billion during the quarter, compared to analysts' expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business's quarterly revenue was up 66.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.53 earnings per share. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 13.14 earnings per share for the current year.

Agnico Eagle Mines Company 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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