8,669 Shares in Agnico Eagle Mines Limited $AEM Purchased by Diversify Advisory Services LLC

Diversify Advisory Services LLC bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,669 shares of the mining company’s stock, valued at approximately $1,265,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Acumen Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $26,000. Dunhill Financial LLC purchased a new stake in Agnico Eagle Mines during the second quarter worth $31,000. Jessup Wealth Management Inc purchased a new stake in Agnico Eagle Mines during the fourth quarter worth $35,000. University of Texas Texas AM Investment Management Co. grew its holdings in Agnico Eagle Mines by 64.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company’s stock valued at $39,000 after purchasing an additional 90 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Agnico Eagle Mines in the fourth quarter valued at $39,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. UBS Group cut their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Scotia cut their target price on shares of 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. Barclays reduced their price target on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Zacks Research lowered shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Finally, ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $208.04 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The firm has a market cap of $105.45 billion, a PE ratio of 17.80, a P/E/G ratio of 2.32 and a beta of 0.60. The firm has a 50 day simple moving average of $158.87 and a 200-day simple moving average of $186.35. Agnico Eagle Mines Limited has a 1-year low of $131.16 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released 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. The firm 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%. Agnico Eagle Mines’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 EPS. On average, equities analysts expect that Agnico Eagle Mines Limited will post 11.56 EPS 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.