GTS Securities LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

GTS Securities LLC acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, Holdings Channel reports. The fund acquired 8,129 shares of the mining company’s stock, valued at approximately $1,261,000.

Other institutional investors have also modified their holdings of the company. K.J. Harrison & Partners Inc purchased a new position in Agnico Eagle Mines during the second quarter worth $6,923,000. BIP Wealth LLC purchased a new stake in shares of Agnico Eagle Mines in the second quarter valued at $1,167,000. Annex Advisory Services LLC lifted its holdings in shares of Agnico Eagle Mines by 70.5% in the 2nd quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company’s stock worth $4,500,000 after acquiring an additional 11,995 shares during the last quarter. RFG Advisory LLC bought a new stake in shares of Agnico Eagle Mines in the 4th quarter worth about $1,122,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of Agnico Eagle Mines by 12.0% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company’s stock worth $16,046,000 after acquiring an additional 11,100 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and raised their price objective for the stock from $187.00 to $200.00 in a research note on Monday, July 6th. Scotia dropped their target price on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research report on Friday, July 3rd. Canadian Imperial Bank of Commerce set a $285.00 target price on Agnico Eagle Mines in a research note on Thursday, July 16th. Finally, Bank of America reduced their price target on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $226.00.

Agnico Eagle Mines Trading Down 4.2%

NYSE AEM opened at $206.41 on Friday. The company’s 50-day moving average price is $165.50 and its 200-day moving average price is $187.44. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The stock has a market cap of $104.63 billion, a PE ratio of 17.66, a PEG ratio of 2.56 and a beta of 0.60. Agnico Eagle Mines Limited has a 12 month low of $134.38 and a 12 month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the firm posted $1.94 EPS. The firm’s revenue was up 35.0% compared to the same quarter last year. Equities research analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.

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.