Purpose Unlimited Inc. Makes New $581,000 Investment in Agnico Eagle Mines Limited $AEM

Purpose Unlimited Inc. acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,427 shares of the mining company’s stock, valued at approximately $581,000.

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

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $166.63 on Monday. The business’s 50-day moving average is $186.15 and its 200 day moving average is $194.53. Agnico Eagle Mines Limited has a 12 month low of $114.60 and a 12 month high of $255.24. The company has a market capitalization of $84.58 billion, a P/E ratio of 15.66, a P/E/G ratio of 3.66 and a beta of 0.56. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company’s revenue was up 66.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 EPS. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AEM. JPMorgan Chase & Co. upped their target price on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Erste Group Bank cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Canadian Imperial Bank of Commerce boosted their price objective on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Finally, Barclays initiated coverage on Agnico Eagle Mines in a research report on Thursday, May 21st. They set an “overweight” rating and a $213.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.08.

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.