Newbridge Financial Services Group Inc. Buys 4,165 Shares of Agnico Eagle Mines Limited $AEM

Newbridge Financial Services Group Inc. grew its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 343.4% during the second quarter, HoldingsChannel reports. The firm owned 5,378 shares of the mining company’s stock after buying an additional 4,165 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Agnico Eagle Mines were worth $640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AEM. Schroder Investment Management Group raised its holdings in Agnico Eagle Mines by 12.7% in the 2nd quarter. Schroder Investment Management Group now owns 438,080 shares of the mining company’s stock valued at $52,101,000 after acquiring an additional 49,480 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Agnico Eagle Mines by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,178,532 shares of the mining company’s stock worth $140,135,000 after purchasing an additional 31,087 shares in the last quarter. Hussman Strategic Advisors Inc. increased its position in shares of Agnico Eagle Mines by 87.5% during the second quarter. Hussman Strategic Advisors Inc. now owns 153,000 shares of the mining company’s stock valued at $18,196,000 after purchasing an additional 71,400 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of Agnico Eagle Mines in the second quarter valued at $769,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Agnico Eagle Mines in the second quarter valued at $202,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 1.3%

Shares of AEM stock opened at $168.18 on Monday. The company has a market capitalization of $84.38 billion, a P/E ratio of 24.55, a P/E/G ratio of 0.61 and a beta of 0.64. Agnico Eagle Mines Limited has a 12-month low of $76.91 and a 12-month high of $187.50. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $166.79 and a 200 day moving average price of $145.69.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.40. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. During the same period in the prior year, the firm earned $1.14 earnings per share. Research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Bank of America lifted their price target on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Citigroup upped their target price on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $185.00 to $205.00 in a research note on Wednesday. Finally, TD Securities upped their price objective on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $201.60.

About Agnico Eagle Mines

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.