Visionary Wealth Advisors Acquires Shares of 31,596 Agnico Eagle Mines Limited $AEM

Visionary Wealth Advisors bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 31,596 shares of the mining company’s stock, valued at approximately $4,901,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AEM. Brighton Jones LLC grew its position in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after buying an additional 331 shares during the period. AQR Capital Management LLC increased its stake in shares of Agnico Eagle Mines by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after acquiring an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of 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 acquiring an additional 1,160 shares during the period. Rhumbline Advisers raised its position in shares of Agnico Eagle Mines by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after acquiring an additional 134 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Agnico Eagle Mines by 25.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock worth $110,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AEM. Citigroup decreased their price objective on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a report on Monday, July 27th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. UBS Group decreased their price target 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. Scotiabank lowered their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Finally, 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 report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.00.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $217.76 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The company has a market capitalization of $110.38 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61. The company’s 50 day moving average price is $161.95 and its two-hundred day moving average price is $186.83. Agnico Eagle Mines Limited has a 52 week low of $134.38 and a 52 week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly 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. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates 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 revenue was up 35.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.94 earnings per share. On average, analysts expect that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal 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.