Robotti Robert Makes New Investment in Agnico Eagle Mines Limited $AEM

Robotti Robert bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, HoldingsChannel reports. The fund bought 4,500 shares of the mining company’s stock, valued at approximately $698,000.

Other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Agnico Eagle Mines by 1.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock valued at $893,000 after acquiring an additional 59 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Agnico Eagle Mines by 0.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,284 shares of the mining company’s stock worth $2,422,000 after acquiring an additional 63 shares during the last quarter. Syon Capital LLC increased its holdings in Agnico Eagle Mines by 1.8% in the 4th quarter. Syon Capital LLC now owns 3,675 shares of the mining company’s stock worth $623,000 after purchasing an additional 65 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Agnico Eagle Mines by 1.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company’s stock worth $728,000 after purchasing an additional 67 shares in the last quarter. Finally, Rossby Financial LCC raised its position in Agnico Eagle Mines by 1.1% in the fourth quarter. Rossby Financial LCC now owns 7,061 shares of the mining company’s stock valued at $1,197,000 after purchasing an additional 74 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on AEM. Canadian Imperial Bank of Commerce set a $285.00 price target on Agnico Eagle Mines in a research note on Thursday, July 16th. UBS Group lowered their price objective on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Scotia dropped their price objective on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a report on Friday, July 3rd. Barclays cut their target price 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. Finally, Royal Bank Of Canada reduced their target price on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $186.79 on Wednesday. The business has a 50-day moving average price of $157.75 and a two-hundred day moving average price of $186.40. Agnico Eagle Mines Limited has a 1-year low of $130.04 and a 1-year high of $255.24. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The company has a market cap of $94.68 billion, a P/E ratio of 15.98, a PEG ratio of 2.32 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data 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 return on equity of 22.04% and a net margin of 40.44%.The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the business earned $1.94 EPS. The firm’s revenue was up 35.0% compared to the same quarter last year. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 11.56 EPS 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.