Quantitative Investment Management LLC Acquires 16,012 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Quantitative Investment Management LLC significantly increased its stake in Agnico Eagle Mines by 393.6%, owning a total of 20,080 shares valued at approximately $2.18 million.
• Agnico Eagle Mines recently reported quarterly earnings of $1.94 EPS, exceeding analyst expectations and reflecting a 35.6% year-over-year revenue increase to $2.86 billion.
• Analysts maintain a positive outlook for Agnico Eagle Mines, with a consensus rating of "Buy" and an average price target of $136.90, indicating potential for future growth.

Quantitative Investment Management LLC increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 393.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,080 shares of the mining company's stock after buying an additional 16,012 shares during the quarter. Quantitative Investment Management LLC's holdings in Agnico Eagle Mines were worth $2,176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AEM. Brighton Jones LLC grew its holdings in shares of Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after buying an additional 331 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $422,000. First Trust Advisors LP grew its holdings in shares of Agnico Eagle Mines by 5.2% during the fourth quarter. First Trust Advisors LP now owns 169,101 shares of the mining company's stock valued at $13,226,000 after buying an additional 8,394 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Agnico Eagle Mines by 147.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,828 shares of the mining company's stock valued at $143,000 after buying an additional 1,089 shares in the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in shares of Agnico Eagle Mines by 235.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company's stock valued at $37,000 after buying an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target on the stock in a report on Monday, June 30th. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. CIBC reiterated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Five research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Stock Down 0.3%

Shares of AEM traded down $0.39 during trading hours on Thursday, hitting $139.11. 1,850,313 shares of the company were exchanged, compared to its average volume of 2,923,017. The company has a market cap of $69.95 billion, a PE ratio of 23.66, a PEG ratio of 0.96 and a beta of 0.44. The firm's 50 day moving average is $126.30 and its 200-day moving average is $115.42. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $140.45. 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 (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.11. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The firm's revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 EPS. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS 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.