Lbp Am Sa Buys 89,691 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Lbp Am Sa increased its stake in Agnico Eagle Mines Limited by 52.6% during the 2nd quarter, acquiring an additional 89,691 shares, bringing its total ownership to 260,177 shares valued at approximately $30.94 million.
• Agnico Eagle Mines reported $1.94 earnings per share for the last quarter, exceeding analysts' expectations of $1.83, with revenue of $2.86 billion, a 35.6% increase from the previous year.
• Analysts have expressed positive sentiment towards Agnico Eagle Mines, with a consensus rating of "Buy" and various price target adjustments, including an increase by UBS Group from $125 to $160.

Lbp Am Sa boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 52.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 260,177 shares of the mining company's stock after buying an additional 89,691 shares during the period. Lbp Am Sa owned approximately 0.05% of Agnico Eagle Mines worth $30,943,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC bought a new position in Agnico Eagle Mines in the 1st quarter worth approximately $226,000. Bank of New York Mellon Corp increased its position in Agnico Eagle Mines by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock worth $52,613,000 after buying an additional 5,717 shares during the period. Private Trust Co. NA increased its position in Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after buying an additional 232 shares during the period. Golden State Wealth Management LLC bought a new position in Agnico Eagle Mines in the 1st quarter worth approximately $34,000. Finally, OneDigital Investment Advisors LLC bought a new position in Agnico Eagle Mines in the 1st quarter worth approximately $234,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Trading Up 1.0%

Shares of AEM opened at $168.52 on Wednesday. The stock has a fifty day moving average price of $142.82 and a two-hundred day moving average price of $124.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. Agnico Eagle Mines Limited has a 52-week low of $75.17 and a 52-week high of $169.38. The company has a market cap of $84.73 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 1.12 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.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 company posted $1.07 EPS. The business's revenue for the quarter was up 35.6% compared to the same quarter last year. Analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AEM. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. UBS Group lifted their price objective on Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Finally, Bank of America lifted their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Five analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of "Buy" and a consensus price target of $141.40.

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.

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