United Capital Financial Advisors LLC bought a new position in Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,252 shares of the mining company’s stock, valued at approximately $504,000.
Several other hedge funds also recently modified their holdings of the business. Acumen Wealth Advisors LLC bought a new stake in Agnico Eagle Mines in the fourth quarter worth $26,000. Dunhill Financial LLC acquired a new position in Agnico Eagle Mines during the second quarter worth $31,000. Fiduciary Financial Advisors bought a new position in Agnico Eagle Mines during the second quarter valued at about $32,000. Jessup Wealth Management Inc bought a new position in Agnico Eagle Mines during the fourth quarter valued at about $35,000. Finally, Allied Private Wealth LLC acquired a new stake in shares of Agnico Eagle Mines in the second quarter worth about $36,000. Institutional investors and hedge funds own 68.34% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on AEM shares. JPMorgan Chase & Co. increased their price objective on Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Bank of America reduced their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, July 9th. UBS Group decreased their target price on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Barclays lowered their price target on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada dropped their price target on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $226.00.
Agnico Eagle Mines Price Performance
Shares of NYSE:AEM opened at $203.16 on Tuesday. Agnico Eagle Mines Limited has a 1-year low of $134.38 and a 1-year high of $255.24. The firm has a market capitalization of $102.98 billion, a PE ratio of 17.38, a PEG ratio of 2.56 and a beta of 0.61. The business’s 50 day moving average is $166.23 and its 200-day moving average is $187.22. 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 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 analyst estimates of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.Agnico Eagle Mines’s revenue was up 35.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.94 earnings per share. Sell-side analysts predict that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.
About Agnico Eagle Mines
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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