Twin Lakes Capital Management LLC Buys Shares of 18,137 Agnico Eagle Mines Limited $AEM

Twin Lakes Capital Management LLC bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,137 shares of the mining company’s stock, valued at approximately $2,814,000. Agnico Eagle Mines accounts for approximately 1.1% of Twin Lakes Capital Management LLC’s investment portfolio, making the stock its 24th largest position.

A number of other hedge funds have also made changes to their positions in the stock. Capital World Investors lifted its position in Agnico Eagle Mines by 2.8% in the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock worth $3,618,730,000 after buying an additional 572,473 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Agnico Eagle Mines by 21.6% during the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after buying an additional 3,062,705 shares during the period. TD Asset Management Inc grew its holdings in shares of Agnico Eagle Mines by 1.7% during the 4th quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock valued at $1,641,239,000 after acquiring an additional 165,263 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of Agnico Eagle Mines during the 2nd quarter valued at $1,362,158,000. Finally, Mackenzie Financial Corp increased its stake in shares of Agnico Eagle Mines by 4.0% in the fourth quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company’s stock worth $1,489,509,000 after acquiring an additional 332,797 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Down 4.2%

Agnico Eagle Mines stock opened at $206.41 on Friday. 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 Limited has a 1-year low of $134.38 and a 1-year high of $255.24. The firm’s fifty day simple moving average is $165.50 and its 200-day simple moving average is $187.44. The company has a market capitalization of $104.63 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.68 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. The firm 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%. Agnico Eagle Mines’s revenue for the quarter 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 forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on AEM shares. Royal Bank Of Canada cut their price objective 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. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Barclays dropped their target price on 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. JPMorgan Chase & Co. raised their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Finally, ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Twelve equities research 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines 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.