Clare Market Investments LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

Clare Market Investments LLC purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,285 shares of the mining company’s stock, valued at approximately $2,291,000.

A number of other hedge funds also recently made changes to their positions in the stock. O Domhnaill Enterprises Inc. purchased a new position in Agnico Eagle Mines during the first quarter valued at approximately $1,155,000. Kathmere Capital Management LLC increased its stake in shares of Agnico Eagle Mines by 14.0% in the first quarter. Kathmere Capital Management LLC now owns 2,327 shares of the mining company’s stock worth $472,000 after purchasing an additional 285 shares in the last quarter. Ascentis Independent Advisors raised its position in shares of Agnico Eagle Mines by 101.6% during the 1st quarter. Ascentis Independent Advisors now owns 5,242 shares of the mining company’s stock valued at $1,064,000 after purchasing an additional 2,642 shares during the period. Berger Financial Group Inc bought a new position in Agnico Eagle Mines in the 1st quarter worth $228,000. Finally, Lee Danner & Bass Inc. boosted its holdings in Agnico Eagle Mines by 84.1% in the 1st quarter. Lee Danner & Bass Inc. now owns 213,123 shares of the mining company’s stock worth $43,260,000 after buying an additional 97,335 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $156.15 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. Agnico Eagle Mines Limited has a 1 year low of $115.19 and a 1 year high of $255.24. The stock’s 50 day simple moving average is $173.67 and its two-hundred day simple moving average is $193.63. The company has a market cap of $79.26 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 3.37 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results 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 return on equity of 21.09% and a net margin of 39.46%.The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the company earned $1.53 EPS. The company’s quarterly revenue was up 66.1% compared to the same quarter last year. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 13.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on AEM. UBS Group decreased their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and increased their target price for the stock from $187.00 to $200.00 in a research report on Monday. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Scotia lowered their price target on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a report on Friday. Finally, Wall Street Zen upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average target price of $236.85.

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.