EP Wealth Advisors LLC Acquires New Stake in Agnico Eagle Mines Limited $AEM

EP Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,116 shares of the mining company’s stock, valued at approximately $639,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Ieq Capital LLC bought a new stake in Agnico Eagle Mines during the second quarter valued at approximately $1,450,000. Callan Family Office LLC purchased a new stake in Agnico Eagle Mines during the 2nd quarter valued at about $209,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Agnico Eagle Mines during the second quarter valued at approximately $47,000. Caldwell Investment Management Ltd. bought a new position in shares of Agnico Eagle Mines in the second quarter worth approximately $465,000. Finally, Allworth Financial LP bought a new stake in Agnico Eagle Mines during the 2nd quarter valued at $740,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Royal Bank Of Canada lowered their price objective on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a research note on Thursday, July 9th. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and upped their price target for the company from $187.00 to $200.00 in a research report on Monday, July 6th. Scotiabank cut 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 report on Tuesday, July 14th. Bank of America decreased their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines Stock Performance

AEM stock opened at $217.76 on Tuesday. Agnico Eagle Mines Limited has a 12-month low of $134.38 and a 12-month high of $255.24. The stock’s 50 day simple moving average is $161.95 and its 200 day simple moving average is $186.83. The stock has a market capitalization of $110.38 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results 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. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the business earned $1.94 EPS. The company’s quarterly revenue was up 35.0% compared to the same quarter last year. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share 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.