Performance Wealth Partners LLC Buys New Stake in Agnico Eagle Mines Limited $AEM

Performance Wealth Partners LLC purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, HoldingsChannel reports. The institutional investor purchased 10,354 shares of the mining company’s stock, valued at approximately $1,606,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Acumen Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter worth about $26,000. Jessup Wealth Management Inc purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at about $35,000. Allied Private Wealth LLC acquired a new position in Agnico Eagle Mines during the 2nd quarter worth approximately $36,000. Banque Cantonale Vaudoise acquired a new position in Agnico Eagle Mines during the 4th quarter worth approximately $39,000. Finally, University of Texas Texas AM Investment Management Co. boosted its holdings in Agnico Eagle Mines by 64.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company’s stock worth $39,000 after acquiring an additional 90 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on AEM. JPMorgan Chase & Co. increased their price objective on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Zacks Research cut shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Scotia decreased their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research note on Friday, July 3rd. Scotiabank lowered their price target on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Finally, Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Trading Up 1.4%

Shares of AEM opened at $189.12 on Tuesday. Agnico Eagle Mines Limited has a one year low of $130.04 and a one year high of $255.24. The stock has a 50-day moving average price of $157.21 and a 200 day moving average price of $186.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The company has a market capitalization of $95.86 billion, a P/E ratio of 16.18, a P/E/G ratio of 2.32 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.16. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.Agnico Eagle Mines’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 EPS. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

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.