Easterly Investment Partners LLC Decreases Position in Agnico Eagle Mines Limited (NYSE:AEM)

Easterly Investment Partners LLC lowered its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 22,119 shares of the mining company’s stock after selling 514 shares during the period. Easterly Investment Partners LLC’s holdings in Agnico Eagle Mines were worth $1,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Agnico Eagle Mines by 2.2% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock valued at $472,000 after acquiring an additional 158 shares in the last quarter. Banque Cantonale Vaudoise lifted its stake in Agnico Eagle Mines by 2.8% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock valued at $369,000 after buying an additional 169 shares in the last quarter. Baader Bank Aktiengesellschaft grew its holdings in Agnico Eagle Mines by 4.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock valued at $269,000 after buying an additional 192 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Agnico Eagle Mines by 4.7% during the first quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock worth $300,000 after buying an additional 226 shares in the last quarter. Finally, Cigna Investments Inc. New raised its holdings in shares of Agnico Eagle Mines by 2.5% in the second quarter. Cigna Investments Inc. New now owns 9,512 shares of the mining company’s stock worth $622,000 after acquiring an additional 236 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AEM shares. BMO Capital Markets decreased their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Scotiabank upped their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. CIBC boosted their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Finally, Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, July 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average price target of $82.86.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM traded down $0.53 during trading on Monday, reaching $82.26. The stock had a trading volume of 462,252 shares, compared to its average volume of 2,768,086. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 1.51. The stock has a market cap of $41.15 billion, a PE ratio of 86.49, a P/E/G ratio of 0.77 and a beta of 1.06. Agnico Eagle Mines Limited has a one year low of $43.22 and a one year high of $83.40. The firm’s 50 day moving average price is $72.91 and its two-hundred day moving average price is $64.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. Agnico Eagle Mines’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, research analysts forecast that Agnico Eagle Mines Limited will post 3.52 earnings per share for the current fiscal year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.