Elevation Point Wealth Partners LLC Invests $1.91 Million in Agnico Eagle Mines Limited $AEM

Elevation Point Wealth Partners LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,401 shares of the mining company’s stock, valued at approximately $1,908,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Agnico Eagle Mines by 11.5% in the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after purchasing an additional 331 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Agnico Eagle Mines by 36.4% during the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock worth $2,150,000 after purchasing an additional 5,293 shares during the period. Sivia Capital Partners LLC raised its position in shares of Agnico Eagle Mines by 57.2% in the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after buying an additional 1,160 shares in the last quarter. Rhumbline Advisers raised its position in shares of 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 boosted its stake 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 buying an additional 187 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Key Agnico Eagle Mines News

Here are the key news stories impacting Agnico Eagle Mines this week:

• Negative Sentiment: Agnico Eagle suspended mining at the Barnat open pit after a rock mass movement, creating uncertainty around production at the Canadian Malartic complex. AGNICO EAGLE REPORTS WALL MOVEMENT AT BARNAT OPEN PIT AT CANADIAN MALARTIC
• Negative Sentiment: Several reports highlighted the operational issue and possible production impact, reinforcing the market’s concern about a short-term earnings headwind. Agnico Eagle suspends Quebec pit mining, flags production hit
• Neutral Sentiment: Scotia slightly lowered its price target on Agnico Eagle to $278 from $280 while keeping a “sector outperform” rating, signaling continued optimism despite the recent operational setback. BayStreet.CA analyst ratings

Agnico Eagle Mines Stock Down 0.0%

Agnico Eagle Mines stock opened at $153.80 on Monday. 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 Limited has a 52-week low of $115.19 and a 52-week high of $255.24. The firm has a 50 day moving average price of $174.55 and a two-hundred day moving average price of $193.71. The firm has a market cap of $78.06 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 3.37 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the firm posted $1.53 EPS. The company’s quarterly revenue was up 66.1% on a year-over-year basis. Equities analysts predict that Agnico Eagle Mines Limited will post 13.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. TD increased their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Weiss Ratings cut Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Erste Group Bank downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. JPMorgan Chase & Co. upped their price target on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Zacks Research lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.23.

About Agnico Eagle Mines

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.