Diversify Advisory Services LLC Makes New $1.26 Million Investment in Agnico Eagle Mines Limited $AEM

Key Points

• Diversify Advisory Services LLC acquired 8,669 Agnico Eagle Mines shares worth approximately $1.26 million during the second quarter. Hedge funds and other institutional investors collectively own 68.34% of AEM.
• Analyst views remain broadly positive, with 12 Buy ratings, four Holds and one Sell; MarketBeat’s consensus is “Moderate Buy” with a $226 price target, despite recent rating downgrades and upgrades.
• AEM reported quarterly EPS of $3.05, exceeding estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. Shares opened at $208.04, compared with a 12-month range of $131.16 to $255.24.

Diversify Advisory Services LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,669 shares of the mining company's stock, valued at approximately $1,265,000.

A number of other hedge funds have also modified their holdings of AEM. Brighton Jones LLC increased its stake in Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after purchasing an additional 331 shares during the period. AQR Capital Management LLC boosted its stake in shares of Agnico Eagle Mines by 36.4% during the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company's stock worth $2,150,000 after buying an additional 5,293 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of Agnico Eagle Mines by 57.2% during the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company's stock worth $379,000 after buying an additional 1,160 shares during the period. Rhumbline Advisers grew its holdings in shares of Agnico Eagle Mines by 8.0% during the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company's stock worth $215,000 after buying an additional 134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Agnico Eagle Mines by 25.2% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company's stock worth $110,000 after buying an additional 187 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AEM has been the subject of several analyst reports. Wall Street Zen downgraded Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings downgraded Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 2nd. Scotia dropped their target price on Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating on the stock in a report on Friday, July 3rd. Jefferies Financial Group upgraded Agnico Eagle Mines from a "hold" rating to a "buy" rating and upped their price target for the stock from $187.00 to $200.00 in a research note on Monday, July 6th. Finally, Zacks Research downgraded Agnico Eagle Mines from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.00.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $208.04 on Thursday. 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's 50 day moving average is $158.87 and its two-hundred day moving average is $186.35. Agnico Eagle Mines Limited has a twelve month low of $131.16 and a twelve month high of $255.24. The firm has a market capitalization of $105.45 billion, a PE ratio of 17.80, a P/E/G ratio of 2.32 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the business posted $1.94 EPS. The company's revenue for the quarter was up 35.0% on a year-over-year basis. 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.

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