Two Sigma Securities LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

Two Sigma Securities LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 3,025 shares of the mining company’s stock, valued at approximately $469,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AEM. Capital World Investors raised its position in shares of Agnico Eagle Mines by 2.8% during the fourth quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock worth $3,618,730,000 after acquiring an additional 572,473 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after acquiring an additional 3,062,705 shares during the last quarter. TD Asset Management Inc boosted its holdings in Agnico Eagle Mines by 1.7% in the fourth quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock valued at $1,641,239,000 after acquiring an additional 165,263 shares during the last quarter. Deutsche Bank AG acquired a new stake in Agnico Eagle Mines during the 2nd quarter valued at approximately $1,362,158,000. Finally, Mackenzie Financial Corp increased its position in Agnico Eagle Mines by 4.0% during the 4th quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company’s stock valued at $1,489,509,000 after purchasing an additional 332,797 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AEM shares. Scotia dropped their price target on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 3rd. Bank of America decreased their price objective on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Citigroup lowered their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Finally, Barclays cut their price target on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus price target of $226.00.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $196.41 on Thursday. The company has a market cap of $99.56 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67. Agnico Eagle Mines Limited has a 52 week low of $134.38 and a 52 week high of $255.24. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $167.75 and a 200-day moving average of $186.99.

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

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.