9,344 Shares in Agnico Eagle Mines Limited $AEM Purchased by Ieq Capital LLC

Ieq Capital LLC acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,344 shares of the mining company’s stock, valued at approximately $1,450,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Acumen Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $26,000. Dunhill Financial LLC purchased a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at approximately $31,000. Jessup Wealth Management Inc purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $35,000. Allied Private Wealth LLC bought a new position in Agnico Eagle Mines in the 2nd quarter worth approximately $36,000. Finally, Banque Cantonale Vaudoise bought a new position in Agnico Eagle Mines in the 4th quarter worth approximately $39,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

AEM stock opened at $213.84 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. Agnico Eagle Mines Limited has a one year low of $134.38 and a one year high of $255.24. The stock has a market cap of $108.40 billion, a PE ratio of 18.29, a P/E/G ratio of 2.79 and a beta of 0.60. The firm has a 50 day simple moving average of $163.73 and a two-hundred day simple moving average of $187.18.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping 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 for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 EPS. On average, analysts predict that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AEM shares. Scotia lowered their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a report on Friday, July 3rd. UBS Group cut their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Finally, Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and increased their price objective for the stock from $187.00 to $200.00 in a report on Monday, July 6th. Twelve equities 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.00.

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.