Seven Eight Capital LP Takes $1.17 Million Position in Agnico Eagle Mines Limited (NYSE:AEM)

Seven Eight Capital LP purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 17,896 shares of the mining company’s stock, valued at approximately $1,170,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Agnico Eagle Mines by 29.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,168 shares of the mining company’s stock worth $724,000 after purchasing an additional 2,561 shares in the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in shares of Agnico Eagle Mines by 3.3% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 1,096,549 shares of the mining company’s stock valued at $71,714,000 after buying an additional 35,452 shares in the last quarter. Plancorp LLC lifted its stake in shares of Agnico Eagle Mines by 5.5% in the second quarter. Plancorp LLC now owns 78,814 shares of the mining company’s stock valued at $5,154,000 after buying an additional 4,127 shares in the last quarter. Lmcg Investments LLC grew its holdings in shares of Agnico Eagle Mines by 3.6% during the second quarter. Lmcg Investments LLC now owns 202,249 shares of the mining company’s stock valued at $13,227,000 after buying an additional 6,954 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Agnico Eagle Mines by 1.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock worth $868,638,000 after acquiring an additional 134,872 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $81.83 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. The firm has a market cap of $40.94 billion, a price-to-earnings ratio of 86.14, a P/E/G ratio of 0.77 and a beta of 1.10. Agnico Eagle Mines Limited has a 52 week low of $43.22 and a 52 week high of $84.65. The firm’s 50-day simple moving average is $77.87 and its two-hundred day simple moving average is $68.52.

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

Analysts Set New Price Targets

A number of research firms have issued reports on AEM. TD Securities lifted their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada lifted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. CIBC increased their price target on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. BMO Capital Markets cut their price objective on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Finally, Jefferies Financial Group upped their target price 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.67.

Agnico Eagle Mines 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.