International Assets Investment Management LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

Key Points

• International Assets Investment Management LLC initiated a position of 20,475 Agnico Eagle Mines shares in the third quarter, valued at approximately $3.75 million. Institutional investors collectively own 68.34% of the company.
• Agnico Eagle reported quarterly earnings of $2.62 per share, exceeding analyst estimates of $2.47, while revenue rose 17.1% year over year to $3.54 billion.
• Analysts maintain a “Moderate Buy” consensus rating, with 13 Buy ratings and six Holds and an average price target of $227, above the reported share price of $170.21.

International Assets Investment Management LLC purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,475 shares of the mining company's stock, valued at approximately $3,752,000.

Several other hedge funds have also recently modified their holdings of the business. Fortitude Family Office LLC boosted its position in shares of Agnico Eagle Mines by 600.0% during the third quarter. Fortitude Family Office LLC now owns 140 shares of the mining company's stock valued at $26,000 after buying an additional 120 shares during the last quarter. Markowski Investments bought a new stake in Agnico Eagle Mines in the 2nd quarter worth about $29,000. Sawyer & Company Inc bought a new stake in Agnico Eagle Mines in the 3rd quarter worth about $35,000. Dunhill Financial LLC purchased a new position in Agnico Eagle Mines in the 2nd quarter worth about $31,000. Finally, Fiduciary Financial Advisors purchased a new position in Agnico Eagle Mines in the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Trading Up 2.9%

Shares of Agnico Eagle Mines stock opened at $170.21 on Tuesday. The company's fifty day simple moving average is $191.79 and its 200-day simple moving average is $189.33. The stock has a market capitalization of $86.29 billion, a PE ratio of 13.88, a P/E/G ratio of 2.71 and a beta of 0.64. 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.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Wednesday, October 28th. The mining company reported $2.62 EPS for the quarter, topping the consensus estimate of $2.47 by $0.15. Agnico Eagle Mines had a return on equity of 22.31% and a net margin of 41.01%. The firm had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the business posted $2.10 EPS. Agnico Eagle Mines's revenue was up 17.1% on a year-over-year basis. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 11.40 earnings per share for the current year.

Wall Street Analyst Weigh In

AEM has been the subject of several research reports. Bank of America decreased their price objective on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Royal Bank Of Canada raised their target price on shares of Agnico Eagle Mines from $210.00 to $225.00 and gave the stock a "sector perform" rating in a report on Wednesday, September 16th. Freedom Broker upgraded shares of Agnico Eagle Mines from a "hold" rating to a "buy" rating and set a $212.00 target price on the stock in a report on Monday. Wall Street Zen downgraded shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, Canadian Imperial Bank of Commerce set a $239.00 target price on shares of Agnico Eagle Mines in a research note on Friday, October 16th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $227.00.

About Agnico Eagle Mines

Agnico Eagle Mines Limited NYSE: AEM is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.

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