Quantbot Technologies LP Invests $988,000 in Agnico Eagle Mines Limited $AEM

Quantbot Technologies LP acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, Holdings Channel reports. The institutional investor acquired 6,370 shares of the mining company’s stock, valued at approximately $988,000.

Several other hedge funds have also recently made changes to their positions in AEM. Acumen Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines during the 4th quarter worth about $26,000. Dunhill Financial LLC purchased a new stake in Agnico Eagle Mines during the 2nd quarter valued at about $31,000. Jessup Wealth Management Inc acquired a new position in shares of Agnico Eagle Mines in the fourth quarter valued at about $35,000. Allied Private Wealth LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter worth about $36,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $39,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America dropped their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce set a $285.00 price objective on shares of Agnico Eagle Mines in a research note on Thursday, July 16th. Scotiabank dropped their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Finally, Citigroup reduced their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a report on Monday, July 27th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Stock Down 4.6%

AEM stock opened at $213.84 on Thursday. The firm has a market cap of $108.40 billion, a PE ratio of 18.29, a P/E/G ratio of 2.79 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The firm’s fifty day moving average is $163.73 and its 200 day moving average is $187.18. Agnico Eagle Mines Limited has a one year low of $134.38 and a one year high of $255.24.

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, topping analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. The company’s revenue was up 35.0% compared to the same quarter last year. On average, research analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

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.