Manatuck Hill Partners LLC Invests $2.79 Million in Agnico Eagle Mines Limited $AEM

Manatuck Hill Partners LLC acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, Holdings Channel reports. The institutional investor acquired 18,000 shares of the mining company’s stock, valued at approximately $2,792,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Acumen Wealth Advisors LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at about $26,000. Dunhill Financial LLC acquired a new stake in shares of Agnico Eagle Mines during the second quarter valued at about $31,000. Fiduciary Financial Advisors purchased a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at approximately $32,000. Jessup Wealth Management Inc purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. Finally, Allied Private Wealth LLC acquired a new position in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $36,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AEM. Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and increased their price objective for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Royal Bank Of Canada cut their target price on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 9th. Scotiabank decreased their price target on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Bank of America lowered their price target on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Barclays dropped their price objective on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.00.

Agnico Eagle Mines Trading Up 2.8%

NYSE AEM opened at $224.04 on Wednesday. The firm has a 50 day simple moving average of $162.91 and a 200-day simple moving average of $187.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. Agnico Eagle Mines Limited has a one year low of $134.38 and a one year high of $255.24. The firm has a market cap of $113.57 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 2.71 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the business posted $1.94 earnings per share. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 11.56 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.