Headlands Technologies LLC Purchases New Position in Agnico Eagle Mines Limited $AEM

Headlands Technologies LLC purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,011 shares of the mining company’s stock, valued at approximately $467,000.

A number of other hedge funds also recently bought and sold shares of AEM. Deutsche Bank AG purchased a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $1,362,158,000. Norges Bank acquired a new stake in Agnico Eagle Mines in the 4th quarter valued at $1,367,783,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at $927,602,000. Bank of America Corp DE purchased a new stake in Agnico Eagle Mines in the 2nd quarter worth $844,096,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Agnico Eagle Mines in the 2nd quarter worth $608,054,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 1.5%

AEM stock opened at $196.41 on Thursday. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $167.75 and a two-hundred day moving average of $186.99. Agnico Eagle Mines Limited has a 12 month low of $134.38 and a 12 month high of $255.24. The company has a market cap of $99.56 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 2.41 and a beta of 0.67.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.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 prior year, the business earned $1.94 earnings per share. The business’s revenue was up 35.0% compared to the same quarter last year. As a group, analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Canadian Imperial Bank of Commerce set a $285.00 price objective on shares of Agnico Eagle Mines in a research report on Thursday, July 16th. Scotiabank cut their target price on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Barclays reduced their price target on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Scotia reduced their target price on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a report on Friday, July 3rd. Finally, Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and raised their target price for the company from $187.00 to $200.00 in a research report on Monday, July 6th. 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $226.00.

Agnico Eagle Mines 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.