Ruggaard & Associates LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

Key Points

• Ruggaard & Associates LLC acquired 14,088 shares of Agnico Eagle Mines in the second quarter, worth approximately $2.19 million and representing 0.8% of the fund’s holdings.
• Agnico Eagle reported quarterly EPS of $3.05, beating estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. Institutional investors own 68.34% of the company.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $226 target price, although several brokerages recently lowered their individual targets.

Ruggaard & Associates LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 14,088 shares of the mining company's stock, valued at approximately $2,185,000. Agnico Eagle Mines makes up 0.8% of Ruggaard & Associates LLC's holdings, making the stock its 17th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $26,000. Dunhill Financial LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $31,000. Fiduciary Financial Advisors acquired a new position in shares of Agnico Eagle Mines in the second quarter valued at $32,000. Jessup Wealth Management Inc bought a new position in Agnico Eagle Mines in the fourth quarter worth $35,000. Finally, Allied Private Wealth LLC acquired a new stake in Agnico Eagle Mines during the second quarter worth $36,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 0.6%

AEM opened at $215.35 on Friday. The firm's fifty day moving average is $164.70 and its two-hundred day moving average is $187.31. The firm has a market cap of $109.16 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.66 and a beta of 0.60. Agnico Eagle Mines Limited has a twelve month low of $134.38 and a twelve month high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $0.16. The business had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The firm's quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 EPS. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AEM. Barclays decreased their target price on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings cut shares of Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 2nd. Scotiabank decreased their price objective on Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Royal Bank Of Canada dropped their target price on Agnico Eagle Mines from $230.00 to $210.00 and set a "sector perform" rating for the company in a report on Thursday, July 9th. Finally, Citigroup cut their target price on Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, July 27th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $226.00.

Agnico Eagle Mines Company Profile

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.

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