Pure Financial Advisors LLC Invests $404,000 in Agnico Eagle Mines Limited $AEM

Pure Financial Advisors LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, Holdings Channel reports. The firm acquired 2,602 shares of the mining company’s stock, valued at approximately $404,000.

A number of other institutional investors also recently modified their holdings of the stock. Acumen Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines in the fourth quarter worth $26,000. Dunhill Financial LLC acquired a new position in shares of Agnico Eagle Mines during the second quarter valued at about $31,000. Fiduciary Financial Advisors acquired a new position in shares of Agnico Eagle Mines during the second quarter valued at about $32,000. Jessup Wealth Management Inc bought a new position in shares of Agnico Eagle Mines during the 4th quarter worth about $35,000. Finally, Allied Private Wealth LLC bought a new position in shares of Agnico Eagle Mines during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 0.6%

Agnico Eagle Mines stock opened at $215.35 on Friday. The firm has a market capitalization of $109.16 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 2.66 and a beta of 0.60. The firm’s fifty day moving average price is $164.70 and its two-hundred day moving average price is $187.31. Agnico Eagle Mines Limited has a 1-year low of $134.38 and a 1-year high of $255.24. 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) (TSE:AEM) last posted its earnings results 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 net margin of 40.44% and a return on equity of 22.04%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The firm’s revenue for the quarter was up 35.0% on a year-over-year basis. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AEM shares. JPMorgan Chase & Co. raised their target price on Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and increased their price target for the stock from $187.00 to $200.00 in a report on Monday, July 6th. Bank of America reduced their price objective 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. Finally, UBS Group decreased their price objective on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus target price of $226.00.

About Agnico Eagle Mines

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.