Wellington Management Group LLP Purchases New Shares in Agnico Eagle Mines Limited $AEM

Wellington Management Group LLP acquired a new stake in 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 (SEC). The fund acquired 180,255 shares of the mining company’s stock, valued at approximately $27,993,000.

A number of other large investors have also modified their holdings of the company. Acumen Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at about $26,000. Dunhill Financial LLC purchased a new position in Agnico Eagle Mines during the second quarter worth approximately $31,000. Fiduciary Financial Advisors purchased a new position in Agnico Eagle Mines during the second quarter worth approximately $32,000. Jessup Wealth Management Inc acquired a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $35,000. Finally, Allied Private Wealth LLC acquired a new stake in Agnico Eagle Mines in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AEM. Barclays reduced their target price on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. UBS Group reduced their price objective on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Raymond James Financial decreased their price objective on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and lifted their target price for the company from $187.00 to $200.00 in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Twelve investment 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines Trading Down 1.1%

Shares of AEM stock opened at $204.75 on Friday. Agnico Eagle Mines Limited has a fifty-two week low of $134.38 and a fifty-two week high of $255.24. 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 stock’s fifty day moving average is $169.72 and its two-hundred day moving average is $187.05. The firm has a market capitalization of $103.79 billion, a P/E ratio of 17.51, a PEG ratio of 2.55 and a beta of 0.67.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. The business had revenue of $3.77 billion during 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 company’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 earnings per share. Research 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.