1,971 Shares in Agnico Eagle Mines Limited $AEM Acquired by Knightsbridge Asset Management LLC

Key Points

• Knightsbridge Asset Management LLC has acquired a new stake in Agnico Eagle Mines Limited valued at approximately $214,000, indicating significant institutional investment interest in the mining company.
• Analysts have shown a positive outlook on Agnico Eagle Mines, with several firms issuing “buy” ratings and raising their price targets, reflecting confidence in the company's future performance.
• Agnico Eagle Mines reported a strong quarterly earnings performance, with earnings per share of $1.94, surpassing expectations and marking a 35.6% year-over-year revenue increase.

Knightsbridge Asset Management LLC purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,971 shares of the mining company's stock, valued at approximately $214,000.

Other institutional investors have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Agnico Eagle Mines during the first quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Agnico Eagle Mines during the first quarter valued at about $26,000. Private Trust Co. NA grew its position in Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after acquiring an additional 232 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Agnico Eagle Mines in the first quarter worth about $34,000. Finally, Dagco Inc. purchased a new position in Agnico Eagle Mines in the first quarter worth about $39,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Trading Down 0.3%

Shares of Agnico Eagle Mines stock traded down $0.40 on Friday, hitting $153.33. 1,411,668 shares of the company traded hands, compared to its average volume of 2,928,805. The stock's 50 day moving average price is $132.64 and its 200-day moving average price is $119.28. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $156.18. The company has a market cap of $77.10 billion, a PE ratio of 26.08, a PEG ratio of 1.05 and a beta of 0.45.

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 earnings per share 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 firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The company's revenue was up 35.6% on a year-over-year basis. Equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. National Bankshares reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Royal Bank Of Canada raised their price objective on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, 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 research note on Monday, June 23rd. Five analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines 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.