Edmond DE Rothschild Holding S.A. Invests $24.62 Million in Agnico Eagle Mines Limited $AEM

Edmond DE Rothschild Holding S.A. bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 158,987 shares of the mining company’s stock, valued at approximately $24,621,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AEM. Acumen Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the fourth quarter worth about $26,000. Dunhill Financial LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at approximately $31,000. Jessup Wealth Management Inc acquired a new position in shares of Agnico Eagle Mines in the 4th quarter worth approximately $35,000. University of Texas Texas AM Investment Management Co. raised its holdings in shares of Agnico Eagle Mines by 64.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company’s stock worth $39,000 after buying an additional 90 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of Agnico Eagle Mines during the 4th quarter worth approximately $39,000. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AEM. Zacks Research lowered Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. UBS Group dropped their price objective on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Wall Street Zen cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Scotia lowered their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a report on Friday, July 3rd. Finally, ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Stock Up 11.3%

NYSE AEM opened at $208.04 on Thursday. The stock’s 50 day simple moving average is $158.87 and its 200 day simple moving average is $186.35. Agnico Eagle Mines Limited has a one year low of $131.16 and a one year high of $255.24. The firm has a market cap of $105.45 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 2.32 and a beta of 0.60. 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 (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. The company 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 in the previous year, the firm earned $1.94 earnings per share. As a group, sell-side analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal 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.