Daiwa Securities Group Inc. Buys Shares of 6,048 Agnico Eagle Mines Limited (NYSE:AEM)

Daiwa Securities Group Inc. bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,048 shares of the mining company’s stock, valued at approximately $396,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Chesapeake Capital Corp IL bought a new position in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $452,000. Andra AP fonden bought a new position in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $5,161,000. LGT Fund Management Co Ltd. bought a new position in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $3,433,000. United Services Automobile Association lifted its stake in shares of Agnico Eagle Mines by 5.0% in the 2nd quarter. United Services Automobile Association now owns 18,884 shares of the mining company’s stock worth $1,235,000 after purchasing an additional 907 shares during the period. Finally, Choreo LLC raised its position in shares of Agnico Eagle Mines by 255.0% during the 2nd quarter. Choreo LLC now owns 16,002 shares of the mining company’s stock valued at $1,042,000 after purchasing an additional 11,494 shares during the period. Institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

AEM has been the topic of several research analyst reports. CIBC boosted 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. Jefferies Financial Group raised their price target on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Royal Bank of Canada raised their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank raised their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, TD Securities lifted their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.38.

Agnico Eagle Mines Stock Down 0.7 %

NYSE AEM opened at $82.56 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52 week low of $43.22 and a 52 week high of $83.95. The business’s fifty day simple moving average is $77.47 and its 200-day simple moving average is $68.20. The firm has a market cap of $41.30 billion, a PE ratio of 86.90, a P/E/G ratio of 0.77 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 3.65 earnings per share for the current year.

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.