OneDigital Investment Advisors LLC Makes New Investment in Agnico Eagle Mines Limited $AEM

OneDigital Investment Advisors LLC bought a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 2,702 shares of the mining company’s stock, valued at approximately $419,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AEM. Plato Investment Management Ltd bought a new position in shares of Agnico Eagle Mines during the second quarter valued at about $278,000. Simplicity Wealth LLC bought a new stake in Agnico Eagle Mines in the 2nd quarter worth about $373,000. Old West Investment Management LLC purchased a new stake in Agnico Eagle Mines in the 2nd quarter valued at about $9,986,000. Chase Investment Counsel Corp purchased a new stake in Agnico Eagle Mines in the 2nd quarter valued at about $4,710,000. Finally, HBK Sorce Advisory LLC purchased a new stake in Agnico Eagle Mines in the 2nd quarter valued at about $241,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 11.3%

Agnico Eagle Mines stock opened at $208.04 on Thursday. The firm has a 50 day moving average price of $158.87 and a 200-day moving average price of $186.35. 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 twelve month low of $131.16 and a twelve month high of $255.24. The company has a market capitalization of $105.45 billion, a P/E ratio of 17.80, a P/E/G ratio of 2.32 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. Agnico Eagle Mines’s revenue was up 35.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.94 EPS. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AEM. JPMorgan Chase & Co. boosted their target price on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Canadian Imperial Bank of Commerce set a $285.00 price target on Agnico Eagle Mines in a report on Thursday, July 16th. UBS Group decreased 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. Finally, Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and lifted their target price for the stock from $187.00 to $200.00 in a research note on Monday, July 6th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $226.00.

About Agnico Eagle Mines

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.