Agnico Eagle Mines Limited (NYSE:AEM) Holdings Raised by Summit Global Investments

Summit Global Investments boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 29.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,448 shares of the mining company’s stock after purchasing an additional 1,226 shares during the quarter. Summit Global Investments’ holdings in Agnico Eagle Mines were worth $356,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Continuum Advisory LLC grew its position in shares of Agnico Eagle Mines by 1,134.4% during the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after acquiring an additional 363 shares during the last quarter. Stephens Consulting LLC acquired a new stake in Agnico Eagle Mines in the 1st quarter valued at approximately $30,000. Janiczek Wealth Management LLC raised its stake in Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after acquiring an additional 569 shares in the last quarter. WASHINGTON TRUST Co boosted its position in Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after acquiring an additional 350 shares during the period. Finally, ORG Partners LLC bought a new position in shares of Agnico Eagle Mines in the second quarter worth $52,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 0.9 %

AEM traded up $0.74 during midday trading on Wednesday, reaching $82.78. 1,311,963 shares of the company were exchanged, compared to its average volume of 2,784,454. The stock has a market capitalization of $41.41 billion, a P/E ratio of 86.35, a PEG ratio of 0.77 and a beta of 1.06. Agnico Eagle Mines Limited has a one year low of $43.22 and a one year high of $82.97. The stock’s 50-day simple moving average is $71.84 and its 200 day simple moving average is $63.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 1.51.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, analysts forecast that Agnico Eagle Mines Limited will post 3.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on AEM shares. StockNews.com raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Citigroup upped their price objective on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. CIBC lifted their target price on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. BMO Capital Markets dropped their target price on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. Finally, Jefferies Financial Group raised their price objective on Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.86.

About Agnico Eagle Mines

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.