GTS Securities LLC Invests $1.26 Million in Agnico Eagle Mines Limited $AEM

Key Points

• GTS Securities acquired a new 8,129-share stake in Agnico Eagle Mines during the second quarter, valued at approximately $1.26 million. Institutional investors collectively own 68.34% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $226, despite several firms recently lowering their targets.
• Agnico Eagle reported quarterly EPS of $3.05, beating estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. Shares opened at $206.41, down 4.2%, with a 52-week range of $134.38 to $255.24.

GTS Securities LLC acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,129 shares of the mining company's stock, valued at approximately $1,261,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Acumen Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines in the 4th quarter worth $26,000. Dunhill Financial LLC bought a new stake in Agnico Eagle Mines during the second quarter valued at about $31,000. Fiduciary Financial Advisors purchased a new position in shares of Agnico Eagle Mines in the second quarter valued at about $32,000. Jessup Wealth Management Inc purchased a new position in shares of Agnico Eagle Mines in the fourth quarter valued at about $35,000. Finally, Allied Private Wealth LLC bought a new position in shares of Agnico Eagle Mines in the second quarter worth about $36,000. 68.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AEM shares. UBS Group cut their target price on Agnico Eagle Mines from $210.00 to $170.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Weiss Ratings cut Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Royal Bank Of Canada dropped their price target on Agnico Eagle Mines from $230.00 to $210.00 and set a "sector perform" rating for the company in a research note on Thursday, July 9th. JPMorgan Chase & Co. increased their price objective on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Finally, ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $226.00.

Agnico Eagle Mines Stock Down 4.2%

AEM opened at $206.41 on Friday. The company has a market capitalization of $104.63 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.56 and a beta of 0.60. The firm has a 50-day simple moving average of $165.50 and a two-hundred day simple moving average of $187.44. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 52 week low of $134.38 and a 52 week high of $255.24.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating 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 company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the company earned $1.94 earnings per share. The firm's revenue was up 35.0% on a year-over-year basis. Analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

Agnico Eagle Mines 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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