Quantitative Investment Management LLC Purchases New Shares in Agnico Eagle Mines Limited $AEM

Quantitative Investment Management LLC purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,454 shares of the mining company’s stock, valued at approximately $3,638,000.

A number of other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of Agnico Eagle Mines by 11.5% in the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after acquiring an additional 331 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Agnico Eagle Mines by 36.4% during the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock worth $2,150,000 after purchasing an additional 5,293 shares during the period. Sivia Capital Partners LLC grew its holdings in Agnico Eagle Mines by 57.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after purchasing an additional 1,160 shares during the last quarter. Rhumbline Advisers grew its holdings in Agnico Eagle Mines by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after purchasing an additional 134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Agnico Eagle Mines by 25.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock worth $110,000 after purchasing an additional 187 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the subject of several analyst reports. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Zacks Research cut Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. JPMorgan Chase & Co. increased their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Barclays decreased their price target on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Finally, UBS Group cut their price objective on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.00.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $206.41 on Monday. The company has a 50 day moving average price of $165.50 and a 200-day moving average price of $187.28. 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 Limited has a fifty-two week low of $134.38 and a fifty-two week high of $255.24. The company has a market capitalization of $104.63 billion, a PE ratio of 17.66, a P/E/G ratio of 2.56 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.16. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 earnings per share. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.

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.