Quantitative Investment Management LLC purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 23,454 shares of the mining company's stock, valued at approximately $3,638,000.
Other hedge funds have also modified their holdings of the company. K.J. Harrison & Partners Inc purchased a new stake in Agnico Eagle Mines during the 2nd quarter valued at approximately $6,923,000. BIP Wealth LLC bought a new position in shares of Agnico Eagle Mines during the second quarter worth $1,167,000. Annex Advisory Services LLC boosted its position in shares of Agnico Eagle Mines by 70.5% during the second quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company's stock worth $4,500,000 after acquiring an additional 11,995 shares during the last quarter. RFG Advisory LLC purchased a new position in Agnico Eagle Mines during the fourth quarter valued at $1,122,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab grew its stake in Agnico Eagle Mines by 12.0% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company's stock valued at $16,046,000 after acquiring an additional 11,100 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.
Agnico Eagle Mines Price Performance
AEM stock opened at $206.41 on Monday. Agnico Eagle Mines Limited has a 52 week low of $134.38 and a 52 week high of $255.24. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $165.50 and a two-hundred day simple moving average of $187.28. The firm has a market capitalization of $104.63 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61.
Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.89 by $0.16. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business's quarterly revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 EPS. Analysts anticipate that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have commented on AEM. Zacks Research cut shares of Agnico Eagle Mines from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. JPMorgan Chase & Co. raised their price objective on Agnico Eagle Mines from $175.00 to $179.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. UBS Group reduced their target price on Agnico Eagle Mines from $210.00 to $170.00 and set a "neutral" rating on the stock in a report on Tuesday, June 30th. Citigroup decreased their target price on Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, July 27th. Finally, Jefferies Financial Group raised Agnico Eagle Mines from a "hold" rating to a "buy" rating and increased their price target for the company from $187.00 to $200.00 in a research note on Monday, July 6th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $226.00.
Check Out Our Latest Stock Report on Agnico Eagle Mines
Agnico Eagle Mines Profile
(
Free Report)
Agnico Eagle Mines Limited NYSE: AEM is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.
Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.
Further Reading
Want to see what other hedge funds are holding AEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Agnico Eagle Mines, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Agnico Eagle Mines wasn't on the list.
While Agnico Eagle Mines currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Click the link to see our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
