McAdam LLC Takes Position in Agnico Eagle Mines Limited $AEM

Key Points

• McAdam LLC has acquired a new stake in Agnico Eagle Mines Limited, purchasing 1,852 shares valued at approximately $201,000 during the first quarter.
• Agnico Eagle Mines reported a 35.6% year-over-year revenue increase for the last quarter, with a revenue of $2.86 billion and an EPS of $1.94, surpassing analysts' estimates.
• Analysts predominantly hold a Buy rating on Agnico Eagle Mines, with an average price target of $136.90, following recent upgrades from multiple financial institutions.

McAdam LLC purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,852 shares of the mining company's stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEM. Intech Investment Management LLC boosted its stake in shares of Agnico Eagle Mines by 144.9% in the 1st quarter. Intech Investment Management LLC now owns 68,697 shares of the mining company's stock valued at $7,442,000 after purchasing an additional 40,644 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its position in Agnico Eagle Mines by 32.6% in the first quarter. Zurich Insurance Group Ltd FI now owns 509,058 shares of the mining company's stock valued at $55,214,000 after buying an additional 125,223 shares in the last quarter. United Services Automobile Association boosted its position in Agnico Eagle Mines by 4.6% in the first quarter. United Services Automobile Association now owns 16,865 shares of the mining company's stock valued at $1,813,000 after buying an additional 735 shares in the last quarter. Everstar Asset Management LLC boosted its position in Agnico Eagle Mines by 13.3% in the first quarter. Everstar Asset Management LLC now owns 6,669 shares of the mining company's stock valued at $723,000 after buying an additional 781 shares in the last quarter. Finally, Knightsbridge Asset Management LLC bought a new stake in shares of Agnico Eagle Mines during the first quarter worth $214,000. Institutional investors own 68.34% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on AEM shares. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note 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 company an "outperform" rating in a research note on Wednesday, June 4th. Zacks Research lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Finally, CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Buy" and a consensus target price of $136.90.

Agnico Eagle Mines Stock Performance

Shares of AEM traded up $1.50 during mid-day trading on Wednesday, hitting $153.90. 1,708,458 shares of the company's stock were exchanged, compared to its average volume of 2,930,431. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $156.18. The stock's 50-day simple moving average is $134.67 and its 200-day simple moving average is $120.62. The firm has a market cap of $77.38 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 1.04 and a beta of 0.45. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The business's quarterly revenue was up 35.6% compared to the same quarter last year. During the same period last year, the firm earned $1.07 EPS. On average, equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

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.