Scientech Research LLC Makes New $737,000 Investment in Agnico Eagle Mines Limited $AEM

Key Points

• Scientech Research LLC invested approximately $737,000 in Agnico Eagle Mines Limited, acquiring 6,801 shares during the first quarter.
• Agnico Eagle Mines reported $1.94 EPS for the quarter, surpassing analysts' estimates of $1.83 and showcasing a 35.6% year-over-year revenue increase.
• Analysts have a consensus rating of "Buy" on Agnico Eagle Mines, with a price target averaging around $136.90 for the stock.

Scientech Research LLC acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,801 shares of the mining company's stock, valued at approximately $737,000.

Other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC bought a new stake in shares of Agnico Eagle Mines in the first quarter valued at about $226,000. Bank of New York Mellon Corp grew its stake in shares of Agnico Eagle Mines by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock valued at $52,613,000 after purchasing an additional 5,717 shares during the last quarter. Private Trust Co. NA lifted its position in shares of Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after acquiring an additional 232 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Agnico Eagle Mines during the first quarter worth about $34,000. Finally, Captrust Financial Advisors raised its holdings in shares of Agnico Eagle Mines by 6.5% during the 4th quarter. Captrust Financial Advisors now owns 5,663 shares of the mining company's stock valued at $443,000 after buying an additional 347 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on AEM shares. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Bank of America raised 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 note on Monday, June 23rd. Finally, National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Five investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines Stock Up 0.6%

Shares of NYSE AEM traded up $0.85 on Thursday, reaching $153.67. 2,549,755 shares of the company's stock traded hands, compared to its average volume of 2,449,836. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $156.18. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The business's 50 day simple moving average is $132.64 and its two-hundred day simple moving average is $119.28. The company has a market cap of $77.27 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.05 and a beta of 0.45.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The company had revenue of $2.86 billion for the quarter, compared to analysts' expectations 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 quarter in the previous year, the company earned $1.07 EPS. As a group, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal 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.