Ionic Capital Management LLC Makes New $678,000 Investment in Agnico Eagle Mines Limited $AEM

Ionic Capital Management LLC acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,000 shares of the mining company’s stock, valued at approximately $678,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth about $26,000. Lodestone Wealth Management LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth about $35,000. Jessup Wealth Management Inc bought a new stake in Agnico Eagle Mines during the 4th quarter worth about $35,000. Abound Wealth Management grew its holdings in Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after acquiring an additional 104 shares during the last quarter. Finally, Caitlin John LLC bought a new stake in Agnico Eagle Mines during the 3rd quarter worth about $36,000. Institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

AEM has been the topic of a number of research reports. Barclays initiated coverage on shares of Agnico Eagle Mines in a research report on Thursday, May 21st. They set an “overweight” rating and a $213.00 target price on the stock. Erste Group Bank downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. TD Securities upped their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $173.08 on Thursday. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 1 year low of $114.60 and a 1 year high of $255.24. The company has a market cap of $86.42 billion, a PE ratio of 16.27, a PEG ratio of 3.86 and a beta of 0.56. The company’s 50-day moving average is $187.98 and its two-hundred day moving average is $194.62.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. Agnico Eagle Mines’s revenue for the quarter was up 66.1% on a year-over-year basis. During the same period last year, the company posted $1.53 EPS. Equities analysts anticipate that Agnico Eagle Mines Limited will post 13.2 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.