Empowered Funds LLC Invests $6.74 Million in Agnico Eagle Mines Limited $AEM

Empowered Funds LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 43,472 shares of the mining company’s stock, valued at approximately $6,744,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Agnico Eagle Mines by 1.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock worth $893,000 after buying an additional 59 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Agnico Eagle Mines by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,284 shares of the mining company’s stock valued at $2,422,000 after acquiring an additional 63 shares during the last quarter. Syon Capital LLC lifted its stake in Agnico Eagle Mines by 1.8% in the fourth quarter. Syon Capital LLC now owns 3,675 shares of the mining company’s stock valued at $623,000 after acquiring an additional 65 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Agnico Eagle Mines by 1.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company’s stock valued at $728,000 after acquiring an additional 67 shares during the last quarter. Finally, Rossby Financial LCC grew its position in shares of Agnico Eagle Mines by 1.1% in the 4th quarter. Rossby Financial LCC now owns 7,061 shares of the mining company’s stock valued at $1,197,000 after acquiring an additional 74 shares during the period. 68.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

AEM has been the topic of several recent analyst reports. Bank of America lowered their price objective on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and raised their target price for the company from $187.00 to $200.00 in a research note on Monday, July 6th. Canadian Imperial Bank of Commerce set a $285.00 price target on Agnico Eagle Mines in a report on Thursday, July 16th. Scotia dropped their price objective on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 3rd. Finally, UBS Group dropped their price objective on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $226.00.

Agnico Eagle Mines Trading Up 0.1%

AEM stock opened at $206.41 on Monday. Agnico Eagle Mines Limited has a one year low of $134.38 and a one year high of $255.24. The stock has a market cap of $104.63 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. The company has a fifty day moving average price of $165.50 and a two-hundred day moving average price of $187.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.16. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company’s revenue was up 35.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.94 earnings per share. Equities analysts anticipate that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

About Agnico Eagle Mines

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.