4,649 Shares in Agnico Eagle Mines Limited $AEM Acquired by Independent Financial Group LLC

Independent Financial Group LLC purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 4,649 shares of the mining company’s stock, valued at approximately $944,000.

Several other hedge funds also recently modified their holdings of AEM. Acumen Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at $26,000. Abound Wealth Management grew its holdings in Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after acquiring an additional 104 shares during the period. Lodestone Wealth Management LLC bought a new stake in Agnico Eagle Mines in the fourth quarter worth about $35,000. Jessup Wealth Management Inc bought a new stake in Agnico Eagle Mines in the fourth quarter worth about $35,000. Finally, Bangor Savings Bank acquired a new stake in Agnico Eagle Mines in the 4th quarter valued at about $37,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 0.5%

NYSE:AEM opened at $136.25 on Tuesday. The stock has a fifty day simple moving average of $164.20 and a 200 day simple moving average of $191.31. The firm has a market capitalization of $69.15 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 1.82 and a beta of 0.60. Agnico Eagle Mines Limited has a 1-year low of $119.84 and a 1-year high of $255.24. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the company earned $1.53 EPS. The business’s revenue for the quarter was up 66.1% compared to the same quarter last year. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 12.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AEM. Erste Group Bank lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and raised their target price for the stock from $187.00 to $200.00 in a report on Monday, July 6th. Citigroup restated a “positive” rating on shares of Agnico Eagle Mines in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upped their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.62.

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.