Old West Investment Management LLC Takes Position in Agnico Eagle Mines Limited $AEM

Old West Investment Management LLC bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, Holdings Channel.com reports. The fund bought 64,372 shares of the mining company’s stock, valued at approximately $9,986,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $1,367,783,000. Van ECK Associates Corp grew its holdings in shares of Agnico Eagle Mines by 21.6% during the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after purchasing an additional 3,062,705 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth about $194,195,000. Employees Provident Fund Board acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth about $183,341,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Agnico Eagle Mines during the second quarter worth about $156,942,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Agnico Eagle Mines

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

• Positive Sentiment: Gold prices reached their highest level in more than two months on August 13, improving the outlook for large precious-metals producers. Higher bullion prices can increase Agnico Eagle’s realized prices and the value of its future production. Why Agnico Eagle Mines (AEM) Stock Is Up Today
• Positive Sentiment: Agnico Eagle’s second-quarter 2026 results highlighted record free cash flow of $1.335 billion, net income of $1.6 billion and operating cash flow of $2.144 billion. The company also returned $625 million to shareholders through dividends and share repurchases, reinforcing its leverage to elevated gold prices and its shareholder-return strategy.
• Positive Sentiment: Recent analyst targets remain above the stock’s referenced trading level, with a six-month median target of $210 and several targets ranging from $200 to $310. These targets suggest some analysts still see upside if gold prices and production remain supportive.
• Neutral Sentiment: Institutional positioning was mixed: 442 investors added shares while 616 reduced positions in their latest reported quarters. Large purchases by VanEck and JPMorgan were offset by sizable reductions from FMR, FIL, Arrowstreet and TD Asset Management.
• Negative Sentiment: Zacks Research lowered its EPS forecasts across late 2026, 2027 and early 2028, including reducing its FY2026 estimate to $11.65 from $12.79 and FY2027 to $10.62 from $12.82. Zacks maintained a “Strong Sell” rating, signaling concern about future earnings momentum.
• Negative Sentiment: A July 1 wall movement at the Barnat pit reduced production expectations toward the low end of Agnico Eagle’s 2026 guidance. Although there were no injuries, Odyssey’s outlook was unchanged and stockpiles are mitigating the impact, the event remains a production risk.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AEM. Weiss Ratings cut Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Barclays reduced their price objective on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Scotiabank decreased their price objective on 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. Finally, Bank of America decreased their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a report 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $186.32 on Monday. Agnico Eagle Mines Limited has a one year low of $130.04 and a one year high of $255.24. The stock has a market capitalization of $94.45 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.32 and a beta of 0.61. The company has a 50-day simple moving average of $156.67 and a 200-day simple moving average of $186.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. The firm 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%.The business’s revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the company posted $1.94 earnings per share. On average, analysts predict that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

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.