ICONIQ Capital LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

Key Points

• ICONIQ Capital LLC invested approximately $237,000 in Agnico Eagle Mines Limited, acquiring 2,189 shares of the mining company during the first quarter.
• Several institutional investors have increased their stakes in Agnico Eagle Mines, resulting in a combined ownership of 68.34% of the company's stock.
• Agnico Eagle Mines reported an earnings per share (EPS) of $1.94 for the latest quarter, surpassing analyst expectations and showing a revenue increase of 35.6% year-over-year.

ICONIQ Capital LLC bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,189 shares of the mining company's stock, valued at approximately $237,000.

Several other institutional investors have also recently made changes to their positions in AEM. Brighton Jones LLC boosted its position in shares of Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after purchasing an additional 331 shares in the last quarter. Marshall Wace LLP purchased a new position in Agnico Eagle Mines during the fourth quarter valued at $422,000. First Trust Advisors LP boosted its holdings in shares of Agnico Eagle Mines by 5.2% during the 4th quarter. First Trust Advisors LP now owns 169,101 shares of the mining company's stock valued at $13,226,000 after buying an additional 8,394 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Agnico Eagle Mines by 147.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,828 shares of the mining company's stock worth $143,000 after buying an additional 1,089 shares during the period. Finally, Integrated Wealth Concepts LLC increased its stake in shares of Agnico Eagle Mines by 6.0% in the 4th quarter. Integrated Wealth Concepts LLC now owns 6,668 shares of the mining company's stock worth $522,000 after acquiring an additional 379 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AEM. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. 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. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a report on Monday, June 30th. Five analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Agnico Eagle Mines presently has an average rating of "Buy" and a consensus target price of $136.90.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $136.67 on Tuesday. The firm has a market cap of $68.72 billion, a P/E ratio of 23.24, a PEG ratio of 0.95 and a beta of 0.44. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $138.02. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $125.65 and a 200 day moving average of $115.08.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company's revenue was up 35.6% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS. As a group, research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

About Agnico Eagle Mines

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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