Old Peak Finance LLC Takes $506,000 Position in Agnico Eagle Mines Limited $AEM

Old Peak Finance LLC bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,982 shares of the mining company’s stock, valued at approximately $506,000.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after purchasing an additional 331 shares during the period. AQR Capital Management LLC increased its holdings in Agnico Eagle Mines by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after buying an additional 5,293 shares during the period. Sivia Capital Partners LLC raised its position in shares of Agnico Eagle Mines by 57.2% in 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 in the last quarter. Rhumbline Advisers lifted its holdings in shares of Agnico Eagle Mines by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock worth $215,000 after acquiring an additional 134 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Agnico Eagle Mines by 25.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock worth $110,000 after acquiring an additional 187 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 3.5%

Shares of AEM opened at $176.66 on Tuesday. Agnico Eagle Mines Limited has a 52 week low of $114.60 and a 52 week high of $255.24. The stock has a market capitalization of $88.41 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 3.99 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The stock has a fifty day moving average of $194.84 and a 200-day moving average of $194.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the company posted $1.53 EPS. Agnico Eagle Mines’s quarterly revenue was up 66.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 13.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AEM. Barclays assumed coverage on shares of Agnico Eagle Mines in a research note on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price objective on the stock. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. UBS Group reduced their target price on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Canadian Imperial Bank of Commerce lifted their price target 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. Finally, Scotiabank reissued an “outperform” rating and set a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.08.

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.