Edmond DE Rothschild Holding S.A. Makes New Investment in Agnico Eagle Mines Limited $AEM

Edmond DE Rothschild Holding S.A. bought a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 158,987 shares of the mining company’s stock, valued at approximately $24,621,000.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC lifted its stake in 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 buying an additional 331 shares in the last quarter. AQR Capital Management LLC lifted its position in Agnico Eagle Mines by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock worth $2,150,000 after buying an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Agnico Eagle Mines by 57.2% during the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after purchasing an additional 1,160 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Agnico Eagle Mines by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after buying an additional 134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Agnico Eagle Mines by 25.2% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after acquiring an additional 187 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 11.3%

Agnico Eagle Mines stock opened at $208.04 on Thursday. The business has a 50 day moving average price of $158.87 and a two-hundred day moving average price of $186.35. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. The stock has a market cap of $105.45 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.32 and a beta of 0.60. Agnico Eagle Mines Limited has a 12 month low of $131.16 and a 12 month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, topping 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 return on equity of 22.04% and a net margin of 40.44%.Agnico Eagle Mines’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 EPS. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on AEM. Canadian Imperial Bank of Commerce set a $285.00 price target on Agnico Eagle Mines in a research note on Thursday, July 16th. Citigroup reduced their price objective on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, July 27th. JPMorgan Chase & Co. lifted their price objective on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Bank of America cut their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada lowered their target price on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Company 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.