Pure Financial Advisors LLC bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,602 shares of the mining company’s stock, valued at approximately $404,000.
A number of other hedge funds have also bought and sold shares of AEM. Corient Private Wealth LP acquired a new stake in Agnico Eagle Mines in the 2nd quarter worth about $7,120,000. Ausdal Financial Partners Inc. acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $277,000. Bamco Inc. NY acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $1,882,000. Bank of America Corp DE bought a new position in shares of Agnico Eagle Mines during the second quarter worth approximately $844,096,000. Finally, Caisse de depot et placement du Quebec bought a new position in shares of Agnico Eagle Mines during the second quarter worth approximately $87,027,000. 68.34% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on AEM. Scotiabank dropped their price target on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Scotia dropped their price objective on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a report on Friday, July 3rd. Royal Bank Of Canada cut their target price on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Finally, Zacks Research cut Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.00.
Agnico Eagle Mines Trading Up 0.6%
Shares of AEM stock opened at $215.35 on Friday. The stock’s fifty day simple moving average is $164.70 and its 200 day simple moving average is $187.31. Agnico Eagle Mines Limited has a twelve month low of $134.38 and a twelve month high of $255.24. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $109.16 billion, a P/E ratio of 18.42, a P/E/G ratio of 2.66 and a beta of 0.60.
Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last posted 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 return on equity of 22.04% and a net margin of 40.44%.The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the business posted $1.94 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 35.0% on a year-over-year basis. As a group, sell-side analysts predict that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.
Agnico Eagle Mines Company 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.
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