GSG Advisors LLC Acquires Shares of 6,000 Agnico Eagle Mines Limited $AEM

GSG Advisors LLC acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, HoldingsChannel.com reports. The fund acquired 6,000 shares of the mining company’s stock, valued at approximately $931,000.

Several other hedge funds have also modified their holdings of the company. Acumen Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at about $26,000. Dunhill Financial LLC purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at about $31,000. Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines in the 4th quarter worth about $35,000. Allied Private Wealth LLC acquired a new position in Agnico Eagle Mines in the 2nd quarter worth about $36,000. Finally, Banque Cantonale Vaudoise acquired a new position in Agnico Eagle Mines in the 4th quarter worth about $39,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on AEM. Citigroup dropped their price objective on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, July 27th. JPMorgan Chase & Co. boosted their price objective on Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Bank of America reduced their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and increased their target price for the company from $187.00 to $200.00 in a research report on Monday, July 6th. Finally, Zacks Research cut shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $226.00.

Agnico Eagle Mines Trading Up 0.4%

Shares of AEM opened at $217.02 on Monday. Agnico Eagle Mines Limited has a 52-week low of $133.80 and a 52-week high of $255.24. The stock has a market cap of $110.01 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61. The firm’s fifty day moving average is $161.03 and its two-hundred day moving average is $186.68. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.94 earnings per share. Research analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share 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.