GSG Advisors LLC Invests $931,000 in Agnico Eagle Mines Limited $AEM

GSG Advisors LLC bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,000 shares of the mining company’s stock, valued at approximately $931,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEM. Brighton Jones LLC increased its holdings 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 buying an additional 331 shares during the period. AQR Capital Management LLC raised its position in Agnico Eagle Mines by 36.4% during the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock worth $2,150,000 after buying an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC raised its position in Agnico Eagle Mines by 57.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock worth $379,000 after buying an additional 1,160 shares during the last quarter. Rhumbline Advisers lifted its stake in Agnico Eagle Mines by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after acquiring an additional 134 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Agnico Eagle Mines by 25.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after acquiring an additional 187 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

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Agnico Eagle Mines Stock Up 0.4%

Shares of AEM stock opened at $217.02 on Monday. Agnico Eagle Mines Limited has a twelve month low of $133.80 and a twelve month high of $255.24. The stock has a market cap of $110.01 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.69 and a beta of 0.61. The stock has a 50 day moving average of $161.03 and a 200 day moving average of $186.68. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm posted $1.94 EPS. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. As a group, sell-side analysts expect that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Wall Street Analysts Forecast Growth

AEM has been the topic of several recent research reports. Royal Bank Of Canada dropped their price objective on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Zacks Research cut shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. JPMorgan Chase & Co. boosted their target price on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and upped their price target for the company from $187.00 to $200.00 in a report on Monday, July 6th. Finally, Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $226.00.

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About Agnico Eagle Mines

(Free Report)

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.

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