Empyrean Capital Partners LP Has $4.70 Million Stock Position in Agnico Eagle Mines Limited $AEM

Empyrean Capital Partners LP lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 68.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,700 shares of the mining company’s stock after selling 59,100 shares during the quarter. Empyrean Capital Partners LP’s holdings in Agnico Eagle Mines were worth $4,696,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Engineers Gate Manager LP increased its position in shares of Agnico Eagle Mines by 403.9% in the fourth quarter. Engineers Gate Manager LP now owns 42,253 shares of the mining company’s stock valued at $7,163,000 after acquiring an additional 33,868 shares during the last quarter. First Manhattan CO. LLC. grew its holdings in Agnico Eagle Mines by 11.1% during the fourth quarter. First Manhattan CO. LLC. now owns 1,405 shares of the mining company’s stock worth $238,000 after purchasing an additional 140 shares during the period. Asset One Wealth Management LLC bought a new position in Agnico Eagle Mines during the fourth quarter worth about $941,000. Boothbay Fund Management LLC grew its holdings in Agnico Eagle Mines by 90.4% during the fourth quarter. Boothbay Fund Management LLC now owns 4,883 shares of the mining company’s stock worth $828,000 after purchasing an additional 2,318 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Agnico Eagle Mines by 1,509.6% during the fourth quarter. AQR Capital Management LLC now owns 855,547 shares of the mining company’s stock worth $145,084,000 after purchasing an additional 802,395 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Down 1.6%

Agnico Eagle Mines stock opened at $173.08 on Thursday. Agnico Eagle Mines Limited has a 52 week low of $114.60 and a 52 week high of $255.24. The stock has a market capitalization of $86.42 billion, a P/E ratio of 16.27, a PEG ratio of 3.86 and a beta of 0.56. The stock has a 50-day simple moving average of $187.98 and a 200 day simple moving average of $194.62. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its 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. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the business earned $1.53 earnings per share. The firm’s revenue for the quarter was up 66.1% on a year-over-year basis. Analysts expect that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AEM shares. Barclays started coverage on Agnico Eagle Mines in a report on Thursday, May 21st. They set an “overweight” rating and a $213.00 price target for the company. Erste Group Bank cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Weiss Ratings cut Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, UBS Group reduced their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.