Hara Capital LLC Takes Position in Agnico Eagle Mines Limited $AEM

Hara Capital LLC bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,934 shares of the mining company’s stock, valued at approximately $610,000.

A number of other institutional investors have also recently added to or reduced their stakes in AEM. Acumen Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines in the 4th quarter valued at $26,000. Dunhill Financial LLC purchased a new position in Agnico Eagle Mines in the second quarter valued at about $31,000. Jessup Wealth Management Inc acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth about $35,000. Allied Private Wealth LLC acquired a new position in shares of Agnico Eagle Mines during the second quarter worth about $36,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter worth about $39,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 1.8%

Shares of Agnico Eagle Mines stock opened at $211.40 on Friday. Agnico Eagle Mines Limited has a 1-year low of $133.80 and a 1-year high of $255.24. The company has a market capitalization of $107.16 billion, a PE ratio of 18.08, a P/E/G ratio of 2.58 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The business has a 50-day moving average of $159.95 and a 200-day moving average of $186.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released 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. 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 for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the firm posted $1.94 earnings per share. The company’s revenue was up 35.0% compared to the same quarter last year. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on AEM. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and boosted their price target for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Scotiabank decreased their price target on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Citigroup lowered 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 report on Monday, July 27th. Finally, UBS Group dropped their price objective on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $226.00.

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.