Easterly Investment Partners LLC Grows Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Easterly Investment Partners LLC boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 68.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,633 shares of the mining company’s stock after buying an additional 9,223 shares during the period. Easterly Investment Partners LLC’s holdings in Agnico Eagle Mines were worth $1,350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AEM. Stephens Consulting LLC acquired a new position in Agnico Eagle Mines during the 1st quarter worth approximately $30,000. Bruce G. Allen Investments LLC acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $33,000. CVA Family Office LLC acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $36,000. Janiczek Wealth Management LLC boosted its stake in Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after purchasing an additional 569 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new position in Agnico Eagle Mines during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

AEM stock traded up $2.63 during trading on Wednesday, reaching $72.83. 1,790,713 shares of the company were exchanged, compared to its average volume of 2,909,083. The company has a market capitalization of $36.43 billion, a price-to-earnings ratio of 75.26, a P/E/G ratio of 0.78 and a beta of 1.06. Agnico Eagle Mines Limited has a twelve month low of $43.22 and a twelve month high of $73.13. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88. The company has a 50-day moving average of $66.87 and a two-hundred day moving average of $58.70.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The business’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 3.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Scotiabank increased their price target on Agnico Eagle Mines from $71.00 to $81.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $58.00 to $59.00 and gave the company a “hold” rating in a research report on Thursday, June 20th. CIBC increased their price objective on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. StockNews.com upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.22.

About Agnico Eagle Mines

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.