Entropy Technologies LP Invests $1.61 Million in Agnico Eagle Mines Limited $AEM

Entropy Technologies LP purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,493 shares of the mining company’s stock, valued at approximately $1,609,000.

Several other hedge funds have also recently made changes to their positions in AEM. Acumen Wealth Advisors LLC bought a new position in Agnico Eagle Mines in the 4th quarter worth $26,000. Abound Wealth Management boosted its holdings in Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after acquiring an additional 104 shares in the last quarter. Lodestone Wealth Management LLC purchased a new stake in Agnico Eagle Mines during the 4th quarter valued at about $35,000. Jessup Wealth Management Inc purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at approximately $35,000. Finally, Caitlin John LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter worth $36,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on AEM shares. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. TD Securities lifted their price objective on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. 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. TD increased their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Barclays started coverage on shares of 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 research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $236.08.

Agnico Eagle Mines Trading Up 5.6%

NYSE AEM opened at $171.68 on Tuesday. Agnico Eagle Mines Limited has a one year low of $114.60 and a one year high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The company has a market capitalization of $85.92 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 3.57 and a beta of 0.56. The company’s 50-day simple moving average is $189.34 and its two-hundred day simple moving average is $194.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly 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. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the company earned $1.53 EPS. The company’s revenue was up 66.1% compared to the same quarter last year. Equities analysts forecast that Agnico Eagle Mines Limited will post 13.2 EPS for the current fiscal year.

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.