Louisbourg Investments Inc. Invests $3.16 Million in Agnico Eagle Mines Limited $AEM

Key Points

• Louisbourg Investments Inc. invested approximately $3.16 million in Agnico Eagle Mines Limited, acquiring 26,550 shares during the second quarter.
• Agnico Eagle Mines recently reported a 35.6% increase in quarterly revenue year-over-year, with earnings per share of $1.94, surpassing analyst estimates.
• Analysts have generally rated Agnico Eagle Mines positively, with an average rating of "Buy" and a consensus target price of $162.10.

Louisbourg Investments Inc. bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,550 shares of the mining company's stock, valued at approximately $3,157,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new stake in Agnico Eagle Mines during the second quarter valued at about $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Agnico Eagle Mines during the first quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Agnico Eagle Mines during the first quarter valued at about $26,000. Private Trust Co. NA boosted its position in Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after buying an additional 232 shares during the period. Finally, Golden State Wealth Management LLC purchased a new stake in Agnico Eagle Mines during the first quarter valued at about $34,000. Institutional investors own 68.34% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Securities upped their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a "buy" rating in a research report on Wednesday. National Bankshares reiterated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Bank of America increased their target price 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. Weiss Ratings reiterated a "buy (a)" rating on shares of Agnico Eagle Mines in a report on Wednesday. Finally, Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Six investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $162.10.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $164.28 on Friday. The company has a market capitalization of $82.60 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 1.08 and a beta of 0.46. 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 50 day moving average of $149.57 and a 200 day moving average of $128.20. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $172.21.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced 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 company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The firm's quarterly revenue was up 35.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

About Agnico Eagle Mines

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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