Agnico Eagle Mines Ltd (AEM) Position Raised by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC boosted its holdings in shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 12.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,164 shares of the mining company’s stock after purchasing an additional 31,118 shares during the period. Agnico Eagle Mines accounts for approximately 1.6% of Essex Investment Management Co. LLC’s holdings, making the stock its 6th largest holding. Essex Investment Management Co. LLC’s holdings in Agnico Eagle Mines were worth $12,840,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its holdings in Agnico Eagle Mines by 995.7% during the 1st quarter. Quadrant Capital Group LLC now owns 2,564 shares of the mining company’s stock valued at $106,000 after purchasing an additional 2,330 shares in the last quarter. Pekin Singer Strauss Asset Management IL acquired a new stake in Agnico Eagle Mines during the 1st quarter valued at $219,000. Suntrust Banks Inc. acquired a new stake in Agnico Eagle Mines during the 1st quarter valued at $340,000. Capital Management Associates NY acquired a new stake in Agnico Eagle Mines during the 1st quarter valued at $400,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in Agnico Eagle Mines by 60.3% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 11,170 shares of the mining company’s stock valued at $517,000 after purchasing an additional 4,200 shares in the last quarter. 58.59% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on AEM shares. BMO Capital Markets raised Agnico Eagle Mines from a “market perform” rating to an “outperform” rating and set a $55.00 price target for the company in a report on Tuesday, May 29th. Zacks Investment Research raised Agnico Eagle Mines from a “sell” rating to a “hold” rating in a report on Tuesday, April 24th. Finally, ValuEngine raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Agnico Eagle Mines currently has a consensus rating of “Buy” and an average price target of $56.70.

Shares of Agnico Eagle Mines traded down $0.14, hitting $45.55, during midday trading on Tuesday, according to Marketbeat.com. The stock had a trading volume of 125,558 shares, compared to its average volume of 1,047,494. The stock has a market capitalization of $10.63 billion, a P/E ratio of 41.06, a price-to-earnings-growth ratio of 86.70 and a beta of -0.45. Agnico Eagle Mines Ltd has a fifty-two week low of $37.35 and a fifty-two week high of $51.86. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.24 and a current ratio of 3.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 26th. The mining company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). The firm had revenue of $578.40 million during the quarter, compared to analyst estimates of $541.61 million. Agnico Eagle Mines had a net margin of 9.36% and a return on equity of 4.29%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. equities research analysts forecast that Agnico Eagle Mines Ltd will post 0.53 earnings per share for the current fiscal year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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