Caldwell Investment Management Ltd. Makes New Investment in Agnico Eagle Mines Limited $AEM

Caldwell Investment Management Ltd. bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,000 shares of the mining company’s stock, valued at approximately $465,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after acquiring an additional 331 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Agnico Eagle Mines by 36.4% in the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock worth $2,150,000 after acquiring an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Agnico Eagle Mines by 57.2% in the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock worth $379,000 after acquiring an additional 1,160 shares during the last quarter. Rhumbline Advisers increased its position in shares of Agnico Eagle Mines by 8.0% during the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock worth $215,000 after purchasing an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Agnico Eagle Mines by 25.2% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock worth $110,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Agnico Eagle Mines Trading Up 2.3%

NYSE AEM opened at $217.02 on Friday. The firm has a 50 day simple moving average of $161.03 and a 200-day simple moving average of $186.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. Agnico Eagle Mines Limited has a one year low of $133.80 and a one year high of $255.24. The firm has a market cap of $110.01 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.64 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.89 by $0.16. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.94 earnings per share. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal 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.