Ion Asset Management Ltd. Raises Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Ion Asset Management Ltd. increased its stake in Agnico Eagle Mines by 36.7% in Q1, now holding 11,070 shares valued at approximately $1.2 million.
• Agnico Eagle Mines received mixed analyst ratings, with an overall consensus of "Buy" and an average price target of $136.90.
• The mining company reported Q2 earnings per share of $1.94, surpassing estimates, and projected a total EPS of 4.63 for the current year.

Ion Asset Management Ltd. raised its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 36.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,070 shares of the mining company's stock after purchasing an additional 2,970 shares during the quarter. Ion Asset Management Ltd.'s holdings in Agnico Eagle Mines were worth $1,200,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Edmond DE Rothschild Holding S.A. boosted its holdings in Agnico Eagle Mines by 23.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 61,699 shares of the mining company's stock worth $6,697,000 after purchasing an additional 11,912 shares during the last quarter. Banque Transatlantique SA boosted its holdings in Agnico Eagle Mines by 6,778.8% in the first quarter. Banque Transatlantique SA now owns 2,270 shares of the mining company's stock worth $228,000 after purchasing an additional 2,237 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Agnico Eagle Mines by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company's stock worth $2,150,000 after purchasing an additional 5,293 shares during the period. Advisors Asset Management Inc. purchased a new position in shares of Agnico Eagle Mines in the first quarter worth approximately $1,053,000. Finally, AlTi Global Inc. boosted its holdings in shares of Agnico Eagle Mines by 299.5% in the first quarter. AlTi Global Inc. now owns 49,353 shares of the mining company's stock worth $5,346,000 after buying an additional 37,000 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AEM has been the topic of a number of research reports. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective on the stock in a report on Monday, June 30th. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Bank of America raised their price objective on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Zacks Research downgraded shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Finally, TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Five research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $136.90.

Agnico Eagle Mines Price Performance

AEM stock traded down $0.46 during midday trading on Wednesday, hitting $152.29. The company's stock had a trading volume of 1,329,711 shares, compared to its average volume of 2,929,188. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $156.18. 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 firm has a market capitalization of $76.57 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 1.06 and a beta of 0.45. The company has a 50 day moving average of $131.29 and a two-hundred day moving average of $118.66.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating 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 quarter last year, the business earned $1.07 earnings per share. Agnico Eagle Mines's quarterly revenue was up 35.6% compared to the same quarter last year. On average, analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

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.