Generate Investment Management Ltd Purchases Shares of 61,074 Agnico Eagle Mines Limited $AEM

Key Points

• Generate Investment Management Ltd acquired 61,074 shares of Agnico Eagle Mines Limited valued at approximately $7,264,000 during the 2nd quarter, marking a significant investment in the company.
• Agnico Eagle Mines has seen a price target increase from various analysts, with Royal Bank of Canada raising it from $115.00 to $145.00 and the average consensus price target now at $141.40.
• The company reported a 35.6% increase in revenue year-over-year for its most recent quarter, achieving a net margin of 30.63% and an EPS of $1.94.

Generate Investment Management Ltd acquired a new position 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. The firm acquired 61,074 shares of the mining company's stock, valued at approximately $7,264,000.

Several other hedge funds have also recently made changes to their positions in the business. TD Asset Management Inc increased its position in Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after purchasing an additional 2,709,005 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Agnico Eagle Mines by 57.4% during the 1st 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 in the last quarter. Nuveen LLC bought a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at about $85,926,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Agnico Eagle Mines by 11.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock valued at $728,214,000 after buying an additional 673,400 shares during the period. Finally, Addenda Capital Inc. raised its stake in Agnico Eagle Mines by 413.8% in the first quarter. Addenda Capital Inc. now owns 713,237 shares of the mining company's stock worth $77,322,000 after buying an additional 574,420 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective on the stock in a research report on Monday, June 30th. Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Royal Bank Of Canada upped their price target on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Five research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $141.40.

Agnico Eagle Mines Stock Up 2.2%

AEM stock opened at $163.47 on Monday. The business's 50-day moving average price is $141.14 and its 200-day moving average price is $124.15. The stock has a market cap of $82.19 billion, a P/E ratio of 27.80, a PEG ratio of 1.10 and a beta of 0.44. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $164.64.

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

Agnico Eagle Mines Company 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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