Focus Partners Advisor Solutions LLC Acquires New Position in Agnico Eagle Mines Limited $AEM

Key Points

• Focus Partners Advisor Solutions LLC acquired a new stake in Agnico Eagle Mines Limited, purchasing 2,230 shares valued at approximately $242,000 in the first quarter.
• Multiple hedge funds have increased their holdings in Agnico Eagle Mines, with Canada Pension Plan Investment Board owning over 2.3 million shares valued at $254 million.
• Agnico Eagle Mines reported a quarterly earnings of $1.94 per share, surpassing analysts' expectations and achieving a 35.6% year-over-year revenue increase to $2.86 billion.

Focus Partners Advisor Solutions LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,230 shares of the mining company's stock, valued at approximately $242,000.

A number of other hedge funds have also recently modified their holdings of the company. Flputnam Investment Management Co. purchased a new stake in shares of Agnico Eagle Mines in the first quarter valued at about $257,000. Baird Financial Group Inc. grew its holdings in shares of Agnico Eagle Mines by 157.6% in the first quarter. Baird Financial Group Inc. now owns 175,155 shares of the mining company's stock valued at $18,989,000 after purchasing an additional 107,149 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Agnico Eagle Mines by 57.4% in the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock valued at $254,029,000 after purchasing an additional 854,924 shares during the period. Wealth Preservation Advisors LLC acquired a new position in Agnico Eagle Mines in the first quarter valued at about $225,000. Finally, FORA Capital LLC purchased a new position in Agnico Eagle Mines during the first quarter worth about $2,367,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Trading Up 2.4%

NYSE AEM opened at $151.93 on Monday. The firm has a 50 day simple moving average of $129.88 and a 200-day simple moving average of $118.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. Agnico Eagle Mines Limited has a one year low of $75.17 and a one year high of $152.75. The firm has a market cap of $76.39 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.04 and a beta of 0.44.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The company had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter last year, the company earned $1.07 earnings per share. The firm's revenue for the quarter was up 35.6% on a year-over-year basis. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on AEM. Royal Bank Of Canada increased their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price for the company in a research note on Monday, June 30th. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $136.90.

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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