Caitong International Asset Management Co. Ltd Invests $953,000 in Agnico Eagle Mines Limited $AEM

Caitong International Asset Management Co. Ltd purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the fourth quarter, Holdings Channel reports. The firm purchased 5,619 shares of the mining company’s stock, valued at approximately $953,000.

A number of other hedge funds also recently modified their holdings of the stock. Acumen Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines in the 4th quarter worth about $26,000. Lodestone Wealth Management LLC bought a new stake in Agnico Eagle Mines during the fourth quarter valued at approximately $35,000. Jessup Wealth Management Inc bought a new stake in shares of Agnico Eagle Mines during the 4th quarter worth $35,000. Abound Wealth Management boosted its holdings in shares of Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares in the last quarter. Finally, Caitlin John LLC purchased a new stake in Agnico Eagle Mines in the third quarter worth approximately $36,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 0.0%

NYSE AEM opened at $166.63 on Friday. Agnico Eagle Mines Limited has a 12 month low of $114.60 and a 12 month high of $255.24. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The stock has a market cap of $84.58 billion, a PE ratio of 15.66, a P/E/G ratio of 3.66 and a beta of 0.56. The stock’s 50 day moving average is $186.15 and its 200 day moving average is $194.38.

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 (EPS) 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 analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business’s revenue was up 66.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 earnings per share. Research analysts predict that Agnico Eagle Mines Limited will post 13.2 EPS for the current fiscal year.

Analysts Set New Price Targets

AEM has been the topic of several recent analyst reports. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Weiss Ratings cut Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Wall Street Zen cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, JPMorgan Chase & Co. boosted their target price on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.