Shorepoint Capital Partners LLC Purchases New Stake in Agnico Eagle Mines Limited $AEM

Shorepoint Capital Partners LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 98,115 shares of the mining company’s stock, valued at approximately $16,538,000. Agnico Eagle Mines accounts for approximately 3.3% of Shorepoint Capital Partners LLC’s holdings, making the stock its 4th largest position.

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new position in Agnico Eagle Mines during the second quarter worth about $938,644,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Agnico Eagle Mines by 38.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after acquiring an additional 2,319,131 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Agnico Eagle Mines by 48.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock worth $538,506,000 after purchasing an additional 1,474,385 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Agnico Eagle Mines by 53.1% in the 2nd quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock valued at $495,230,000 after buying an additional 1,444,746 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in Agnico Eagle Mines in the second quarter valued at approximately $134,059,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 0.0%

AEM opened at $168.32 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 52 week low of $76.91 and a 52 week high of $187.50. The business’s 50 day moving average is $166.75 and its two-hundred day moving average is $146.04. The firm has a market cap of $84.45 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 0.61 and a beta of 0.64.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. During the same period last year, the firm posted $1.14 earnings per share. On average, research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Analyst Ratings Changes

AEM has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (a-)” rating on shares of Agnico Eagle Mines in a research note on Monday, December 8th. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 30th. Royal Bank Of Canada downgraded Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $185.00 to $205.00 in a report on Wednesday, December 10th. TD Securities raised their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, CIBC upped their target price on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Six analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $201.60.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.