Hara Capital LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

Hara Capital LLC purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,934 shares of the mining company’s stock, valued at approximately $610,000.

A number of other institutional investors have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Agnico Eagle Mines by 1.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock worth $893,000 after acquiring an additional 59 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Agnico Eagle Mines by 0.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,284 shares of the mining company’s stock worth $2,422,000 after purchasing an additional 63 shares during the last quarter. Syon Capital LLC boosted its holdings in shares of Agnico Eagle Mines by 1.8% during the fourth quarter. Syon Capital LLC now owns 3,675 shares of the mining company’s stock worth $623,000 after purchasing an additional 65 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Agnico Eagle Mines by 1.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company’s stock valued at $728,000 after purchasing an additional 67 shares during the period. Finally, Rossby Financial LCC grew its position in shares of Agnico Eagle Mines by 1.1% in the fourth quarter. Rossby Financial LCC now owns 7,061 shares of the mining company’s stock valued at $1,197,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AEM. Scotiabank decreased their price target on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Citigroup dropped their price objective on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Barclays cut their price objective 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. Bank of America decreased their target price on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $226.00.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $211.40 on Friday. The business’s fifty day moving average price is $159.95 and its 200 day moving average price is $186.50. Agnico Eagle Mines Limited has a twelve month low of $133.80 and a twelve month high of $255.24. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $107.16 billion, a P/E ratio of 18.08, a PEG ratio of 2.58 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly 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 company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The firm’s revenue was up 35.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.94 earnings per share. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.

Agnico Eagle Mines Company Profile

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.