Eschler Asset Management LLP Acquires New Stake in Agnico Eagle Mines Limited $AEM

Eschler Asset Management LLP bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 50,000 shares of the mining company’s stock, valued at approximately $5,946,000. Agnico Eagle Mines makes up 4.4% of Eschler Asset Management LLP’s holdings, making the stock its 6th biggest position.

A number of other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC grew 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 worth $252,000 after purchasing an additional 331 shares in the last quarter. Aigen Investment Management LP bought a new stake in Agnico Eagle Mines during the first quarter valued at approximately $200,000. Public Sector Pension Investment Board grew its stake in Agnico Eagle Mines by 0.8% in the 1st quarter. Public Sector Pension Investment Board now owns 48,571 shares of the mining company’s stock worth $5,262,000 after buying an additional 400 shares in the last quarter. Prudential PLC increased its holdings in shares of Agnico Eagle Mines by 3.6% in the 1st quarter. Prudential PLC now owns 5,822 shares of the mining company’s stock worth $631,000 after buying an additional 205 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Agnico Eagle Mines by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,395 shares of the mining company’s stock valued at $214,361,000 after buying an additional 189,935 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Down 1.3%

NYSE AEM opened at $168.18 on Friday. The firm has a market cap of $84.38 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 0.62 and a beta of 0.64. Agnico Eagle Mines Limited has a 1-year low of $76.91 and a 1-year high of $187.50. The stock has a 50-day moving average of $166.79 and a 200-day moving average of $145.29. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.During the same period in the previous year, the firm earned $1.14 EPS. As a group, sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AEM shares. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 4th. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research note on Thursday, October 23rd. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 30th. CIBC raised their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Finally, Bank of America increased their price target on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Six analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $201.60.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.