Counterpoint Mutual Funds LLC Purchases Shares of 20,744 Agnico Eagle Mines Limited $AEM

Counterpoint Mutual Funds LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,744 shares of the mining company’s stock, valued at approximately $4,211,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Acumen Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter worth about $26,000. Lodestone Wealth Management LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $35,000. Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $35,000. Abound Wealth Management boosted its holdings in Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after purchasing an additional 104 shares in the last quarter. Finally, Bangor Savings Bank purchased a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $37,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

• Negative Sentiment: Agnico Eagle suspended mining at the Barnat open pit after a rock mass movement, creating uncertainty around production at the Canadian Malartic complex. AGNICO EAGLE REPORTS WALL MOVEMENT AT BARNAT OPEN PIT AT CANADIAN MALARTIC
• Negative Sentiment: Several reports highlighted the operational issue and possible production impact, reinforcing the market’s concern about a short-term earnings headwind. Agnico Eagle suspends Quebec pit mining, flags production hit
• Neutral Sentiment: Scotia slightly lowered its price target on Agnico Eagle to $278 from $280 while keeping a “sector outperform” rating, signaling continued optimism despite the recent operational setback. BayStreet.CA analyst ratings

Agnico Eagle Mines Stock Down 0.0%

AEM opened at $153.80 on Friday. The business has a 50 day moving average price of $174.55 and a two-hundred day moving average price of $193.54. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. The company has a market cap of $78.06 billion, a PE ratio of 14.45, a P/E/G ratio of 3.37 and a beta of 0.60. Agnico Eagle Mines Limited has a 52 week low of $115.19 and a 52 week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the business posted $1.53 EPS. The company’s revenue was up 66.1% on a year-over-year basis. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 13.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Wall Street Zen upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. TD increased their target price on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Finally, 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 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $236.23.

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.