Oxbow Advisors LLC Acquires Shares of 95,965 Agnico Eagle Mines Limited $AEM

Oxbow Advisors LLC acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, HoldingsChannel.com reports. The fund acquired 95,965 shares of the mining company’s stock, valued at approximately $14,887,000. Agnico Eagle Mines accounts for approximately 1.2% of Oxbow Advisors LLC’s holdings, making the stock its 12th largest position.

Several other institutional investors and hedge funds also recently modified their holdings of AEM. Acumen Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $26,000. Dunhill Financial LLC acquired a new position in Agnico Eagle Mines during the 2nd quarter worth approximately $31,000. Jessup Wealth Management Inc purchased a new position in Agnico Eagle Mines in the 4th quarter worth approximately $35,000. Allied Private Wealth LLC purchased a new position in Agnico Eagle Mines in the 2nd quarter worth approximately $36,000. Finally, Banque Cantonale Vaudoise purchased a new position in Agnico Eagle Mines in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AEM. Zacks Research lowered shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. TD upped their target price on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Scotiabank lowered their price target on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. UBS Group lowered their price target on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada dropped their price target on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $186.79 on Wednesday. The business’s fifty day moving average price is $157.75 and its 200 day moving average price is $186.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. Agnico Eagle Mines Limited has a 12-month low of $130.04 and a 12-month high of $255.24. The stock has a market capitalization of $94.68 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.32 and a beta of 0.61.

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, beating the consensus estimate 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 analyst estimates of $3.78 billion. During the same period in the previous year, the business posted $1.94 EPS. The company’s quarterly revenue was up 35.0% on a year-over-year basis. Equities 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.