MGO One Seven LLC Boosts Stake in Agnico Eagle Mines Limited $AEM

MGO One Seven LLC lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 47.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,460 shares of the mining company’s stock after purchasing an additional 1,764 shares during the period. MGO One Seven LLC’s holdings in Agnico Eagle Mines were worth $649,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ameritas Advisory Services LLC purchased a new stake in Agnico Eagle Mines in the 2nd quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Agnico Eagle Mines in the 1st quarter worth $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Agnico Eagle Mines in the 1st quarter worth $26,000. Private Trust Co. NA increased its stake in Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock worth $31,000 after buying an additional 232 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Agnico Eagle Mines in the 1st quarter worth $34,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AEM shares. Zacks Research upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Citigroup raised their price objective on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America raised their target price on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday. CIBC raised their target price on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Six equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $175.20.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM opened at $174.68 on Friday. The firm has a market cap of $87.83 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 1.23 and a beta of 0.46. The firm’s 50 day simple moving average is $153.76 and its 200-day simple moving average is $130.59. Agnico Eagle Mines Limited has a one year low of $75.17 and a one year high of $187.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. Agnico Eagle Mines’s revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Company 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.