Clare Market Investments LLC Takes $2.29 Million Position in Agnico Eagle Mines Limited $AEM

Clare Market Investments LLC purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,285 shares of the mining company’s stock, valued at approximately $2,291,000.

A number of other hedge funds have also bought and sold shares of the stock. Acumen Wealth Advisors LLC acquired a new position in Agnico Eagle Mines in the 4th quarter worth approximately $26,000. Lodestone Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $35,000. Jessup Wealth Management Inc acquired a new stake in Agnico Eagle Mines during the fourth quarter valued at $35,000. Abound Wealth Management raised its position in shares of Agnico Eagle Mines by 99.0% in the fourth 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 period. Finally, Bangor Savings Bank purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 0.8%

NYSE AEM opened at $156.15 on Tuesday. The firm’s 50-day moving average is $173.67 and its two-hundred day moving average is $193.63. Agnico Eagle Mines Limited has a 12 month low of $115.19 and a 12 month high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The stock has a market capitalization of $79.26 billion, a P/E ratio of 14.63, a PEG ratio of 3.37 and a beta of 0.60.

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 during the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The business’s revenue for the quarter was up 66.1% on a year-over-year basis. During the same period last year, the business earned $1.53 earnings per share. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 13.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AEM. Erste Group Bank cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Scotia reduced their price target on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research report on Friday. Finally, TD upped their price objective on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.85.

Agnico Eagle Mines 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.