GSG Advisors LLC Makes New Investment in Agnico Eagle Mines Limited (NYSE:AEM)

GSG Advisors LLC bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,000 shares of the mining company’s stock, valued at approximately $390,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stephens Consulting LLC acquired a new position in Agnico Eagle Mines in the first quarter valued at about $30,000. Janiczek Wealth Management LLC raised its stake in shares of Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after buying an additional 569 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth $47,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Agnico Eagle Mines during the fourth quarter worth $49,000. Finally, Western Pacific Wealth Management LP purchased a new position in Agnico Eagle Mines during the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AEM. Jefferies Financial Group raised their target price on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Scotiabank upped their price target on Agnico Eagle Mines from $71.00 to $81.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 23rd. CIBC lifted their price objective on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. TD Securities increased their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

Agnico Eagle Mines Stock Up 0.8 %

Agnico Eagle Mines stock traded up $0.59 during mid-day trading on Friday, reaching $74.15. The company’s stock had a trading volume of 1,844,184 shares, compared to its average volume of 2,817,995. Agnico Eagle Mines Limited has a 12 month low of $43.22 and a 12 month high of $78.16. The company has a market capitalization of $37.10 billion, a price-to-earnings ratio of 78.05, a price-to-earnings-growth ratio of 0.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 1.51. The business’s 50 day simple moving average is $70.03 and its 200 day simple moving average is $62.32.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.14. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 3.52 earnings per share for the current year.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.