MQS Management LLC Invests $1.11 Million in Agnico Eagle Mines Limited $AEM

MQS Management LLC purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,538 shares of the mining company’s stock, valued at approximately $1,108,000. Agnico Eagle Mines comprises 0.7% of MQS Management LLC’s investment portfolio, making the stock its 9th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Waterhouse Canada Inc. grew its holdings in shares of Agnico Eagle Mines by 13.4% during the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock worth $192,951,000 after purchasing an additional 134,147 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Agnico Eagle Mines by 42.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company’s stock valued at $11,088,000 after acquiring an additional 19,647 shares during the last quarter. TD Asset Management Inc boosted its holdings in Agnico Eagle Mines by 1.5% in the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock valued at $1,600,436,000 after acquiring an additional 143,645 shares during the last quarter. Gunderson Capital Management Inc. boosted its holdings in Agnico Eagle Mines by 187.6% in the fourth quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company’s stock valued at $8,155,000 after acquiring an additional 31,378 shares during the last quarter. Finally, AustralianSuper Pty Ltd bought a new stake in Agnico Eagle Mines in the third quarter valued at approximately $23,958,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $175.79 on Friday. Agnico Eagle Mines Limited has a 52-week low of $114.60 and a 52-week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The business’s 50 day moving average price is $197.96 and its two-hundred day moving average price is $193.72. The firm has a market cap of $87.98 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 3.88 and a beta of 0.58.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) 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 firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. The company’s revenue was up 66.1% compared to the same quarter last year. On average, equities analysts anticipate that Agnico Eagle Mines Limited will post 13.14 EPS for the current year.

Agnico Eagle Mines News Summary

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

• Positive Sentiment: Agnico Eagle announced a major restart and expansion of its Hope Bay project in Nunavut, committing US$2.4 billion to build an underground gold mine and processing facility. The move supports future production growth and reinforces the company’s long-term development pipeline. Agnico Eagle Mines (AEM) To Begin Redevelopment Of The Hope Bay Mine With $2.4 Billion Investment
• Positive Sentiment: The company also expanded its stake in Wallbridge Mining by investing C$22.4 million, lifting ownership to about 19.9%. That investment could help advance Wallbridge’s Fenelon gold project and gives Agnico more exposure to additional Quebec gold assets. Agnico Eagle Expands Wallbridge Stake Through C$22.4M Investment
• Neutral Sentiment: Recent coverage highlighted Agnico Eagle’s strong earnings quality, cash-rich balance sheet, and profitability, which may support investor confidence but did not appear to be a new market-moving catalyst on its own. Agnico Eagle Earnings Call Highlights Cash-Rich Growth
• Negative Sentiment: Investors are also focusing on valuation and execution risk after a recent selloff, with shares down over the past month and quarter. The big Hope Bay commitment raises future growth potential, but it also increases capital spending expectations and near-term pressure on returns. Agnico Eagle: A 15 Percent Selloff In A Best-In-Class Gold Miner

Wall Street Analyst Weigh In

Several analysts recently commented on AEM shares. Erste Group Bank cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. UBS Group reduced their target price on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Barclays started coverage on Agnico Eagle Mines in a report on Thursday. They issued an “overweight” rating and a $213.00 target price on the stock. Finally, Scotiabank reiterated an “outperform” rating and issued a $280.00 target price on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average price target of $236.08.

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.