Agnico Eagle Mines Limited $AEM Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC significantly increased its stake in Agnico Eagle Mines Limited by 144.9%, acquiring a total of 68,697 shares worth approximately $7.44 million.
• Agnico Eagle Mines reported a strong quarterly performance with $1.94 earnings per share, exceeding expectations and showing a revenue growth of 35.6% year-over-year to $2.86 billion.
• The stock has a current consensus rating of Buy among analysts, with an average price target of $136.90.

Intech Investment Management LLC boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 144.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,697 shares of the mining company's stock after acquiring an additional 40,644 shares during the quarter. Intech Investment Management LLC's holdings in Agnico Eagle Mines were worth $7,442,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AEM. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Agnico Eagle Mines by 1.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock valued at $618,000 after purchasing an additional 85 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of Agnico Eagle Mines by 31.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock valued at $40,000 after purchasing an additional 87 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its position in shares of Agnico Eagle Mines by 1.8% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company's stock valued at $543,000 after purchasing an additional 120 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Agnico Eagle Mines by 19.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company's stock valued at $84,000 after purchasing an additional 125 shares during the last quarter. Finally, Continuum Advisory LLC grew its position in Agnico Eagle Mines by 47.0% during the 1st quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock worth $43,000 after acquiring an additional 127 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Down 1.0%

Shares of AEM stock traded down $1.56 during trading hours on Tuesday, reaching $152.20. 2,329,589 shares of the stock were exchanged, compared to its average volume of 2,931,334. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-month high of $156.18. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The company's 50-day moving average price is $133.94 and its 200-day moving average price is $120.39. The firm has a market capitalization of $76.53 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 1.05 and a beta of 0.44.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly 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 during the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The company's quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on AEM. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Royal Bank Of Canada lifted their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price for the company in a report on Monday, June 30th. Bank of America upped their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Finally, Zacks Research cut Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $136.90.

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.