Ieq Capital LLC bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 9,344 shares of the mining company's stock, valued at approximately $1,450,000.
Several other institutional investors and hedge funds have also bought and sold shares of AEM. K.J. Harrison & Partners Inc acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at $6,923,000. BIP Wealth LLC acquired a new position in Agnico Eagle Mines during the second quarter worth $1,167,000. Annex Advisory Services LLC raised its holdings in Agnico Eagle Mines by 70.5% during the second quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company's stock worth $4,500,000 after buying an additional 11,995 shares during the last quarter. RFG Advisory LLC acquired a new position in Agnico Eagle Mines during the fourth quarter worth $1,122,000. Finally, Harvest Portfolios Group Inc. lifted its stake in shares of Agnico Eagle Mines by 45.7% in the fourth quarter. Harvest Portfolios Group Inc. now owns 137,292 shares of the mining company's stock valued at $23,282,000 after buying an additional 43,051 shares in the last quarter. 68.34% of the stock is owned by institutional investors.
Analyst Ratings Changes
AEM has been the subject of a number of analyst reports. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a "hold" rating to a "buy" rating and lifted their price objective for the company from $187.00 to $200.00 in a report on Monday, July 6th. Wall Street Zen cut shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Scotia cut their price target on Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating for the company in a research note on Friday, July 3rd. Bank of America decreased their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $226.00.
View Our Latest Analysis on AEM
Agnico Eagle Mines Trading Down 4.6%
Shares of Agnico Eagle Mines stock opened at $213.84 on Thursday. The firm has a market cap of $108.40 billion, a PE ratio of 18.29, a P/E/G ratio of 2.79 and a beta of 0.60. Agnico Eagle Mines Limited has a 1 year low of $134.38 and a 1 year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The stock has a fifty day moving average price of $163.73 and a 200-day moving average price of $187.18.
Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. The firm's revenue for the quarter was up 35.0% on a year-over-year basis. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.
Agnico Eagle Mines Profile
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Free Report)
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.
See Also
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