Gunderson Capital Management Inc. Takes $2.82 Million Position in Agnico Eagle Mines Limited $AEM

Key Points

• Gunderson Capital Management Inc. has acquired a new position in Agnico Eagle Mines, purchasing 23,698 shares valued at approximately $2.82 million in the second quarter.
• Several institutional investors have also increased their stakes in Agnico Eagle Mines, contributing to a collective ownership of 68.34% of the company's stock.
• Agnico Eagle Mines reported strong earnings, with an EPS of $1.94 for the last quarter, exceeding analyst expectations and showcasing a 35.6% increase in revenue year-over-year.

Gunderson Capital Management Inc. bought a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the second quarter, according to its most recent filing with the SEC. The firm bought 23,698 shares of the mining company's stock, valued at approximately $2,818,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ameritas Advisory Services LLC bought a new position in Agnico Eagle Mines in the 2nd quarter valued at about $25,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Agnico Eagle Mines during the 1st quarter worth $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Agnico Eagle Mines in the 1st quarter worth about $26,000. Private Trust Co. NA raised its holdings in shares of Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after purchasing an additional 232 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in Agnico Eagle Mines in the first quarter valued at approximately $34,000. Institutional investors own 68.34% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AEM. Raymond James Financial set a $182.00 target price on shares of Agnico Eagle Mines and gave the stock an "outperform" rating in a research report on Friday. UBS Group increased their price objective on Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Bank of America raised their price target on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, Zacks Research upgraded shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. Six analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $155.50.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $161.71 on Friday. The company's fifty day simple moving average is $148.79 and its two-hundred day simple moving average is $127.80. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-month high of $172.21. The firm has a market cap of $81.31 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.13 and a beta of 0.46. 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 (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the business earned $1.07 EPS. The company's revenue for the quarter was up 35.6% on a year-over-year basis. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

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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