Generate Investment Management Ltd Purchases Shares of 95,000 Agnico Eagle Mines Limited $AEM

Generate Investment Management Ltd purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 95,000 shares of the mining company’s stock, valued at approximately $19,283,000. Agnico Eagle Mines accounts for 0.9% of Generate Investment Management Ltd’s holdings, making the stock its 26th biggest position.

A number of other large investors have also modified their holdings of AEM. Acumen Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter worth about $26,000. Abound Wealth Management increased its stake 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 valued at $35,000 after purchasing an additional 104 shares in the last quarter. Lodestone Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at about $35,000. Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines in the 4th quarter worth about $35,000. Finally, Caitlin John LLC acquired a new position in Agnico Eagle Mines in the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

AEM has been the topic of several research analyst reports. TD Securities raised their price objective on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Canadian Imperial Bank of Commerce upped their target price on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Wall Street Zen cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. 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 research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Trading Up 0.1%

AEM opened at $166.79 on Tuesday. The stock has a market capitalization of $84.66 billion, a PE ratio of 15.68, a P/E/G ratio of 3.66 and a beta of 0.56. 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 business’s 50 day moving average price is $185.16 and its 200 day moving average price is $194.51.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted 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. 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 analysts’ expectations of $3.96 billion. During the same quarter last year, the firm earned $1.53 earnings per share. The firm’s quarterly revenue was up 66.1% compared to the same quarter last year. As a group, equities research analysts expect that Agnico Eagle Mines Limited will post 13.2 EPS for the current year.

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.