Mainstay Capital Management LLC ADV Makes New $215,000 Investment in Agnico Eagle Mines Limited $AEM

Key Points

• Mainstay Capital Management LLC ADV made a $215,000 investment in Agnico Eagle Mines Limited during the second quarter, acquiring 1,806 shares of the mining company.
• Agnico Eagle Mines has received multiple upgrades from analysts, with UBS Group raising the target price from $125.00 to $160.00 and Zacks Research upgrading the stock to a "strong-buy" rating.
• In its latest earnings report, Agnico Eagle Mines reported $1.94 earnings per share, exceeding analysts' estimates, and demonstrated a 35.6% year-over-year revenue increase.

Mainstay Capital Management LLC ADV acquired a new position in shares of 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. The institutional investor acquired 1,806 shares of the mining company's stock, valued at approximately $215,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in Agnico Eagle Mines during the 2nd quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in Agnico Eagle Mines during the 1st quarter worth about $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in Agnico Eagle Mines during the 1st quarter worth about $26,000. Private Trust Co. NA grew its holdings in Agnico Eagle Mines by 454.9% during the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after acquiring an additional 232 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in Agnico Eagle Mines during the 1st quarter worth about $34,000. Institutional investors own 68.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AEM shares. UBS Group upped their target price on shares of Agnico Eagle Mines from $125.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, September 19th. Bank of America upped their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Zacks Research upgraded shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. Weiss Ratings restated a "buy (a)" rating on shares of Agnico Eagle Mines in a research report on Wednesday. Finally, Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Six research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $150.30.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM opened at $161.71 on Friday. The company has a market capitalization of $81.31 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 1.13 and a beta of 0.46. The firm's 50 day simple moving average is $148.79 and its 200 day simple moving average is $127.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week 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 analysts' consensus estimates of $1.83 by $0.11. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. Agnico Eagle Mines's revenue for the quarter was up 35.6% on a year-over-year basis. During the same period last year, the company posted $1.07 EPS. As a group, sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current 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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