Te Ahumairangi Investment Management Ltd acquired 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 filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,202 shares of the mining company's stock, valued at approximately $4,846,000.
Several other large investors also recently made changes to their positions in the company. K.J. Harrison & Partners Inc acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at $6,923,000. BIP Wealth LLC acquired a new position in shares of Agnico Eagle Mines during the second quarter valued at about $1,167,000. Annex Advisory Services LLC increased 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 in the last quarter. RFG Advisory LLC bought a new position in Agnico Eagle Mines in the 4th quarter valued at about $1,122,000. Finally, Harvest Portfolios Group Inc. lifted its position in Agnico Eagle Mines by 45.7% in the 4th quarter. Harvest Portfolios Group Inc. now owns 137,292 shares of the mining company's stock valued at $23,282,000 after acquiring an additional 43,051 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
AEM has been the subject of several analyst reports. ATB Cormark Capital Markets raised Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research note on Monday, May 4th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Citigroup reduced their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, July 27th. JPMorgan Chase & Co. increased their target price on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Finally, Zacks Research cut shares of Agnico Eagle Mines from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $226.00.
View Our Latest Stock Analysis on AEM
Agnico Eagle Mines Trading Up 0.4%
NYSE:AEM opened at $217.02 on Monday. The firm's 50 day moving average is $161.03 and its 200 day moving average is $186.68. Agnico Eagle Mines Limited has a 12 month low of $133.80 and a 12 month high of $255.24. The stock has a market capitalization of $110.01 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01.
Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.16. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The business's revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 earnings per share. Sell-side analysts expect that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.
Agnico Eagle Mines Company 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.
Recommended Stories
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
MarketBeat just released its list of the 7 hottest IPOs expected to hit Wall Street in 2026. See which companies are preparing to go public and why investors are watching closely.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
