Empyrean Capital Partners LP Has $4.70 Million Stake in Agnico Eagle Mines Limited $AEM

Empyrean Capital Partners LP decreased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 68.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,700 shares of the mining company’s stock after selling 59,100 shares during the period. Empyrean Capital Partners LP’s holdings in Agnico Eagle Mines were worth $4,696,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Agnico Eagle Mines by 42.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company’s stock valued at $11,088,000 after buying an additional 19,647 shares during the period. TD Asset Management Inc boosted its stake in shares of Agnico Eagle Mines by 1.5% in the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock valued at $1,600,436,000 after buying an additional 143,645 shares during the period. Gunderson Capital Management Inc. boosted its stake in shares of Agnico Eagle Mines by 187.6% in the fourth quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company’s stock valued at $8,155,000 after buying an additional 31,378 shares during the period. TB Alternative Assets Ltd. boosted its stake in shares of Agnico Eagle Mines by 34.2% in the fourth quarter. TB Alternative Assets Ltd. now owns 229,630 shares of the mining company’s stock valued at $38,929,000 after buying an additional 58,490 shares during the period. Finally, Cannell & Spears LLC boosted its stake in shares of Agnico Eagle Mines by 15.0% in the third quarter. Cannell & Spears LLC now owns 559,751 shares of the mining company’s stock valued at $94,352,000 after buying an additional 72,932 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 1.6%

NYSE AEM opened at $173.08 on Thursday. The business has a fifty day moving average price of $187.98 and a two-hundred day moving average price of $194.62. 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 Limited has a fifty-two week low of $114.60 and a fifty-two week high of $255.24. The stock has a market capitalization of $86.42 billion, a PE ratio of 16.27, a PEG ratio of 3.86 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the company earned $1.53 earnings per share. The company’s quarterly revenue was up 66.1% on a year-over-year basis. Equities analysts expect that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AEM has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Wall Street Zen cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. TD boosted their price target on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. TD Securities boosted their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings cut Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.08.

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.