Y Intercept Hong Kong Ltd Makes New Investment in Agnico Eagle Mines Limited $AEM

Y Intercept Hong Kong Ltd acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,992 shares of the mining company’s stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bessemer Group Inc. lifted its position in shares of Agnico Eagle Mines by 13.1% during the 2nd quarter. Bessemer Group Inc. now owns 44,226 shares of the mining company’s stock valued at $5,260,000 after buying an additional 5,130 shares in the last quarter. Brookwood Investment Group LLC purchased a new stake in Agnico Eagle Mines in the 2nd quarter worth $374,000. Envestnet Asset Management Inc. raised its position in Agnico Eagle Mines by 4.4% during the second quarter. Envestnet Asset Management Inc. now owns 231,267 shares of the mining company’s stock worth $27,505,000 after acquiring an additional 9,725 shares during the period. Resonant Capital Advisors LLC lifted its holdings in Agnico Eagle Mines by 10.5% during the second quarter. Resonant Capital Advisors LLC now owns 2,963 shares of the mining company’s stock valued at $352,000 after purchasing an additional 282 shares in the last quarter. Finally, MQS Management LLC lifted its holdings in Agnico Eagle Mines by 97.6% during the second quarter. MQS Management LLC now owns 8,003 shares of the mining company’s stock valued at $952,000 after purchasing an additional 3,953 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group upped their price target on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Wall Street Zen upgraded Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Citigroup boosted their price objective on Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Bank of America raised their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, CIBC lifted their price target on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Four analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Stock Up 1.2%

AEM stock opened at $161.28 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $161.41 and a two-hundred day moving average of $135.94. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $187.50. The company has a market cap of $81.04 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 0.70 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the business earned $1.14 earnings per share. As a group, analysts forecast that Agnico Eagle Mines Limited will post 4.63 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.