Element Squared LLC Takes $2.22 Million Position in Agnico Eagle Mines Limited $AEM

Element Squared LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,937 shares of the mining company’s stock, valued at approximately $2,220,000. Agnico Eagle Mines makes up about 1.3% of Element Squared LLC’s portfolio, making the stock its 21st largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after acquiring an additional 331 shares during the period. AQR Capital Management LLC raised its position in shares of Agnico Eagle Mines by 36.4% in the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after acquiring an additional 5,293 shares during the period. Sivia Capital Partners LLC lifted its holdings in Agnico Eagle Mines by 57.2% during the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock worth $379,000 after acquiring an additional 1,160 shares in the last quarter. Rhumbline Advisers lifted its stake in Agnico Eagle Mines by 8.0% in the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after buying an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Agnico Eagle Mines by 25.2% in the second 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 in the last quarter. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Up 0.9%

Shares of NYSE:AEM opened at $155.09 on Wednesday. The company has a fifty day moving average of $177.76 and a 200-day moving average of $194.03. Agnico Eagle Mines Limited has a 52-week low of $115.19 and a 52-week high of $255.24. The company has a market capitalization of $78.71 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 3.38 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15.

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, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the firm posted $1.53 earnings per share. The firm’s revenue was up 66.1% compared to the same quarter last year. On average, equities analysts predict that Agnico Eagle Mines Limited will post 13.2 EPS for the current fiscal year.

Analyst Ratings Changes

AEM has been the topic of several recent research reports. TD lifted their price target on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $232.75.

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.