Old Peak Finance LLC Invests $506,000 in Agnico Eagle Mines Limited $AEM

Old Peak Finance LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,982 shares of the mining company’s stock, valued at approximately $506,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC raised its position in Agnico Eagle Mines by 93.2% during the fourth quarter. Catalyst Capital Advisors LLC now owns 1,835 shares of the mining company’s stock worth $311,000 after acquiring an additional 885 shares in the last quarter. Forsta AP Fonden increased its stake in shares of Agnico Eagle Mines by 62.6% during the 4th quarter. Forsta AP Fonden now owns 173,800 shares of the mining company’s stock worth $29,512,000 after purchasing an additional 66,900 shares during the last quarter. Norges Bank bought a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at about $1,367,783,000. Fort Sheridan Advisors LLC raised its holdings in shares of Agnico Eagle Mines by 17.8% in the 4th quarter. Fort Sheridan Advisors LLC now owns 2,060 shares of the mining company’s stock valued at $349,000 after purchasing an additional 311 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Agnico Eagle Mines in the 4th quarter valued at about $2,348,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Down 3.5%

AEM opened at $176.66 on Tuesday. Agnico Eagle Mines Limited has a fifty-two week low of $114.60 and a fifty-two week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The company has a market capitalization of $88.41 billion, a P/E ratio of 16.60, a P/E/G ratio of 3.99 and a beta of 0.58. The stock has a fifty day moving average of $194.84 and a 200-day moving average of $194.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating the consensus estimate of $3.19 by $0.21. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. Agnico Eagle Mines’s revenue was up 66.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.53 earnings per share. On average, equities analysts expect that Agnico Eagle Mines Limited will post 13.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AEM shares. Barclays started coverage on Agnico Eagle Mines in a research report on Thursday, May 21st. They set an “overweight” rating and a $213.00 price target on the stock. Weiss Ratings cut Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Canadian Imperial Bank of Commerce lifted their target price on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. TD Securities boosted their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, Scotiabank reaffirmed an “outperform” rating and set a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus target price of $236.08.

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.