Agnico Eagle Mines (NYSE:AEM) Posts Earnings Results, Beats Estimates By $0.55 EPS

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) posted its quarterly earnings results on Thursday. The mining company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.55, Zacks reports. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%.

Agnico Eagle Mines Price Performance

AEM stock traded down $11.84 during trading on Thursday, hitting $205.35. The stock had a trading volume of 3,753,892 shares, compared to its average volume of 3,021,314. Agnico Eagle Mines has a 1-year low of $92.11 and a 1-year high of $225.00. The stock has a market cap of $102.81 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 0.50 and a beta of 0.63. The company’s 50 day moving average price is $187.89 and its two-hundred day moving average price is $166.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12.

Hedge Funds Weigh In On Agnico Eagle Mines

Several institutional investors and hedge funds have recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after acquiring an additional 331 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Agnico Eagle Mines by 57.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after buying an additional 1,160 shares during the period. Jump Financial LLC purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter worth $260,000. Brown Advisory Inc. raised its position in shares of Agnico Eagle Mines by 2.4% in the 2nd quarter. Brown Advisory Inc. now owns 3,378 shares of the mining company’s stock worth $402,000 after buying an additional 79 shares during the period. Finally, Papamarkou Wellner Asset Management inc. acquired a new position in Agnico Eagle Mines in the third quarter valued at $230,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AEM shares. Bank of America increased their price objective on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Citigroup raised their price objective on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. UBS Group restated a “neutral” rating and set a $240.00 target price on shares of Agnico Eagle Mines in a research report on Friday, January 30th. Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research note on Sunday, December 7th. Finally, Canadian Imperial Bank of Commerce set a $296.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $230.64.

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.