Global Retirement Partners LLC Takes Position in Agnico Eagle Mines Limited $AEM

Global Retirement Partners LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, according to its most recent filing with the SEC. The firm purchased 2,833 shares of the mining company’s stock, valued at approximately $439,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEM. Acumen Wealth Advisors LLC purchased a new position in Agnico Eagle Mines in the fourth quarter worth $26,000. Jessup Wealth Management Inc purchased a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $35,000. Allied Private Wealth LLC purchased a new position in Agnico Eagle Mines during the 2nd quarter worth approximately $36,000. Banque Cantonale Vaudoise acquired a new stake in Agnico Eagle Mines during the 4th quarter valued at approximately $39,000. Finally, University of Texas Texas AM Investment Management Co. lifted its position in Agnico Eagle Mines by 64.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company’s stock valued at $39,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AEM. Royal Bank Of Canada decreased their price target 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. JPMorgan Chase & Co. lifted their price objective on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Scotia dropped their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a report on Friday, July 3rd. Zacks Research lowered Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Finally, UBS Group dropped their price objective on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Twelve 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Price Performance

AEM opened at $208.04 on Thursday. The firm has a market cap of $105.45 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 2.32 and a beta of 0.60. Agnico Eagle Mines Limited has a 12-month low of $131.16 and a 12-month high of $255.24. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $158.87 and its 200 day moving average price is $186.35.

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 for the quarter, beating 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%. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 earnings per share. As a group, 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

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.