Janus Henderson Group PLC Acquires 36,766 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Janus Henderson Group increased its Agnico Eagle Mines stake by 83.8% in the first quarter, acquiring 36,766 shares and bringing its holdings to 80,628 shares valued at approximately $16.3 million. Institutional investors own 68.34% of the company.
• Analyst sentiment remains positive overall, with 12 Buy ratings, four Holds and one Sell rating, resulting in a “Moderate Buy” consensus and an average price target of $226.00, despite several recent target reductions.
• Agnico Eagle reported quarterly EPS of $3.05, exceeding estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. Shares opened at $147.63, well below their 12-month high of $255.24.

Janus Henderson Group PLC raised its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 83.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,628 shares of the mining company's stock after buying an additional 36,766 shares during the quarter. Janus Henderson Group PLC's holdings in Agnico Eagle Mines were worth $16,338,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after acquiring an additional 331 shares during the period. AQR Capital Management LLC increased its position in Agnico Eagle Mines by 36.4% during the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company's stock worth $2,150,000 after acquiring an additional 5,293 shares during the period. Sivia Capital Partners LLC raised its stake in Agnico Eagle Mines by 57.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company's stock valued at $379,000 after purchasing an additional 1,160 shares during the last quarter. Rhumbline Advisers boosted its holdings in Agnico Eagle Mines by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company's stock valued at $215,000 after purchasing an additional 134 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Agnico Eagle Mines by 25.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company's stock worth $110,000 after purchasing an additional 187 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AEM shares. Scotiabank dropped their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Weiss Ratings downgraded Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 2nd. UBS Group lowered their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. Citigroup cut their price target on Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating for the company in a report on Monday, July 27th. Finally, Zacks Research downgraded Agnico Eagle Mines from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $226.00.

Agnico Eagle Mines Trading Up 1.6%

Shares of Agnico Eagle Mines stock opened at $147.63 on Tuesday. Agnico Eagle Mines Limited has a 12-month low of $126.93 and a 12-month high of $255.24. The stock has a market capitalization of $74.81 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 1.79 and a beta of 0.61. The company has a 50-day simple moving average of $156.80 and a 200 day simple moving average of $188.76. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $0.16. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company's revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 earnings per share. Research analysts expect that Agnico Eagle Mines Limited will post 11.76 earnings per share for the current fiscal year.

Agnico Eagle Mines Profile

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.

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