Caldwell Investment Management Ltd. Acquires Shares of 3,000 Agnico Eagle Mines Limited $AEM

Caldwell Investment Management Ltd. purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,000 shares of the mining company’s stock, valued at approximately $465,000.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after acquiring an additional 331 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Agnico Eagle Mines by 36.4% in the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after purchasing an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Agnico Eagle Mines by 57.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after buying an additional 1,160 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Agnico Eagle Mines by 8.0% in the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after acquiring an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 valued at $110,000 after purchasing an additional 187 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on AEM. Zacks Research downgraded Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Canadian Imperial Bank of Commerce set a $285.00 price objective on Agnico Eagle Mines in a report on Thursday, July 16th. Finally, Scotiabank reduced their price objective on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus price target of $226.00.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $217.02 on Friday. Agnico Eagle Mines Limited has a 52 week low of $133.80 and a 52 week 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 has a market cap of $110.01 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60. The stock has a 50 day moving average of $161.03 and a 200-day moving average of $186.71.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the prior year, the company posted $1.94 earnings per share. The firm’s quarterly revenue was up 35.0% on a year-over-year basis. On average, analysts expect that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

About Agnico Eagle Mines

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.