Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 2,250,000 shares, a growth of 9.8% from the June 30th total of 2,050,000 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 1,610,000 shares, the days-to-cover ratio is presently 1.4 days.
A number of large investors have recently bought and sold shares of the stock. Valeo Financial Advisors LLC increased its holdings in Agnico Eagle Mines by 8.3% in the second quarter. Valeo Financial Advisors LLC now owns 2,190 shares of the mining company’s stock valued at $140,000 after buying an additional 168 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in Agnico Eagle Mines by 0.6% in the first quarter. Crossmark Global Holdings Inc. now owns 29,812 shares of the mining company’s stock valued at $1,186,000 after buying an additional 182 shares during the last quarter. AQR Capital Management LLC increased its holdings in Agnico Eagle Mines by 2.5% in the fourth quarter. AQR Capital Management LLC now owns 8,419 shares of the mining company’s stock valued at $519,000 after buying an additional 205 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in Agnico Eagle Mines by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 74,368 shares of the mining company’s stock valued at $2,959,000 after buying an additional 209 shares during the last quarter. Finally, Rathbone Brothers plc increased its holdings in Agnico Eagle Mines by 0.5% in the first quarter. Rathbone Brothers plc now owns 45,380 shares of the mining company’s stock valued at $1,794,000 after buying an additional 215 shares during the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE AEM opened at $79.49 on Friday. The stock has a market cap of $19.26 billion, a P/E ratio of 38.97, a PEG ratio of 44.41 and a beta of 0.70. The company has a current ratio of 3.27, a quick ratio of 2.01 and a debt-to-equity ratio of 0.36. Agnico Eagle Mines has a 12-month low of $31.00 and a 12-month high of $79.55. The business’s fifty day simple moving average is $64.38 and its 200-day simple moving average is $57.43.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $557.18 million for the quarter, compared to analysts’ expectations of $545.82 million. Agnico Eagle Mines had a return on equity of 5.46% and a net margin of 18.46%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share. On average, equities analysts forecast that Agnico Eagle Mines will post 1.79 EPS for the current fiscal year.
A number of equities analysts recently weighed in on AEM shares. Barclays upped their price target on Agnico Eagle Mines from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Zacks Investment Research upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Thursday, April 23rd. Raymond James boosted their price objective on Agnico Eagle Mines from $76.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets upped their price target on Agnico Eagle Mines from $54.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Scotiabank upgraded Agnico Eagle Mines from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $65.00 to $72.00 in a research report on Thursday. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Agnico Eagle Mines currently has a consensus rating of “Buy” and an average target price of $74.92.
About Agnico Eagle Mines
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
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