Union Bancaire Privee UBP SA Boosts Holdings in Agnico Eagle Mines Limited $AEM

Union Bancaire Privee UBP SA raised its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 226.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,454 shares of the mining company’s stock after acquiring an additional 13,496 shares during the period. Union Bancaire Privee UBP SA’s holdings in Agnico Eagle Mines were worth $3,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Acumen Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the 4th quarter valued at about $26,000. Abound Wealth Management lifted its stake in Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares during the last quarter. Lodestone Wealth Management LLC bought a new stake in Agnico Eagle Mines in the fourth quarter worth about $35,000. Jessup Wealth Management Inc purchased a new position in shares of Agnico Eagle Mines during the fourth quarter valued at approximately $35,000. Finally, Caitlin John LLC purchased a new position in shares of Agnico Eagle Mines during the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $157.24 on Friday. The company has a market capitalization of $79.81 billion, a P/E ratio of 14.78, a P/E/G ratio of 3.45 and a beta of 0.56. The company’s 50-day simple moving average is $180.30 and its two-hundred day simple moving average is $193.98. Agnico Eagle Mines Limited has a one year low of $114.60 and a one year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company’s revenue was up 66.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 earnings per share. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 13.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Canadian Imperial Bank of Commerce upped their target price on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. TD raised their price target on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. JPMorgan Chase & Co. upped their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.08.

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.