Arrowstreet Capital Limited Partnership Raises Stake in Agnico Eagle Mines Limited $AEM

Arrowstreet Capital Limited Partnership boosted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,629,935 shares of the mining company’s stock after acquiring an additional 40,190 shares during the quarter. Agnico Eagle Mines comprises about 0.9% of Arrowstreet Capital Limited Partnership’s holdings, making the stock its 15th largest holding. Arrowstreet Capital Limited Partnership owned approximately 1.72% of Agnico Eagle Mines worth $1,463,166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Aptus Capital Advisors LLC boosted its holdings in Agnico Eagle Mines by 41.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 5,350 shares of the mining company’s stock worth $907,000 after acquiring an additional 1,578 shares during the period. Kestra Advisory Services LLC boosted its holdings in Agnico Eagle Mines by 72.4% in the 4th quarter. Kestra Advisory Services LLC now owns 29,492 shares of the mining company’s stock worth $5,000,000 after acquiring an additional 12,382 shares during the period. Wright Wealth LLC purchased a new position in Agnico Eagle Mines in the 4th quarter worth approximately $224,000. Financial Sense Advisors Inc. boosted its holdings in Agnico Eagle Mines by 2.2% in the 4th quarter. Financial Sense Advisors Inc. now owns 35,767 shares of the mining company’s stock worth $6,064,000 after acquiring an additional 776 shares during the period. Finally, AlTi Global Inc. boosted its stake in shares of Agnico Eagle Mines by 2.7% during the 4th quarter. AlTi Global Inc. now owns 9,230 shares of the mining company’s stock valued at $1,565,000 after buying an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $162.70 on Friday. Agnico Eagle Mines Limited has a 1-year low of $114.60 and a 1-year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The business’s fifty day moving average price is $190.08 and its two-hundred day moving average price is $194.36. The firm has a market capitalization of $81.43 billion, a PE ratio of 15.29, a P/E/G ratio of 3.57 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.21. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm’s revenue for the quarter was up 66.1% on a year-over-year basis. During the same period last year, the company earned $1.53 earnings per share. On average, research analysts expect that Agnico Eagle Mines Limited will post 13.2 EPS for the current year.

Wall Street Analyst Weigh In

AEM has been the topic of several recent analyst reports. Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Wall Street Zen cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Saturday. Barclays initiated coverage on shares of Agnico Eagle Mines in a report on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price target on the stock. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Finally, Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average target price of $236.08.

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.