Stevens Capital Management LP Makes New $231,000 Investment in Agnico Eagle Mines Limited $AEM

Stevens Capital Management LP bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 1,943 shares of the mining company’s stock, valued at approximately $231,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in Agnico Eagle Mines in the second quarter valued at $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Agnico Eagle Mines in the 1st quarter valued at about $26,000. City State Bank boosted its position in Agnico Eagle Mines by 69.2% during the second quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after purchasing an additional 110 shares in the last quarter. Finally, Dagco Inc. purchased a new position in Agnico Eagle Mines during the first quarter worth approximately $39,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Agnico Eagle Mines in a research note on Thursday. Bank of America boosted their price objective on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. TD Securities raised their target price on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Raymond James Financial boosted their price target on Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, Citigroup raised their price objective on Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Five equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $184.50.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $159.82 on Friday. Agnico Eagle Mines Limited has a fifty-two week low of $76.91 and a fifty-two week high of $187.50. The firm has a market capitalization of $80.17 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 0.70 and a beta of 0.45. The stock’s fifty day moving average is $164.52 and its two-hundred day moving average is $139.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the company posted $1.14 EPS. On average, research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.