Triasima Portfolio Management inc. Boosts Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Triasima Portfolio Management inc. raised its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 320,300 shares of the mining company’s stock after purchasing an additional 12,740 shares during the period. Agnico Eagle Mines accounts for approximately 1.9% of Triasima Portfolio Management inc.’s portfolio, making the stock its 20th largest holding. Triasima Portfolio Management inc. owned approximately 0.06% of Agnico Eagle Mines worth $20,940,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AEM. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Agnico Eagle Mines by 2.2% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock worth $472,000 after buying an additional 158 shares in the last quarter. Banque Cantonale Vaudoise lifted its holdings 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 purchasing an additional 169 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its stake in shares of Agnico Eagle Mines by 0.3% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock worth $4,043,000 after purchasing an additional 189 shares during the last quarter. Baader Bank Aktiengesellschaft grew its holdings in shares of Agnico Eagle Mines by 4.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock worth $269,000 after buying an additional 192 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its position in shares of Agnico Eagle Mines by 4.7% in the first quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock valued at $300,000 after buying an additional 226 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AEM has been the topic of a number of analyst reports. Scotiabank raised their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. BMO Capital Markets dropped their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. CIBC upped 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 note on Wednesday, July 10th. Finally, Jefferies Financial Group increased their price objective on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.86.

Agnico Eagle Mines Trading Down 2.3 %

AEM traded down $1.82 during trading on Friday, hitting $76.89. 1,971,786 shares of the company’s stock were exchanged, compared to its average volume of 2,735,090. Agnico Eagle Mines Limited has a 1 year low of $43.22 and a 1 year high of $83.50. The stock has a 50 day moving average price of $75.93 and a 200 day moving average price of $66.72. The firm has a market cap of $38.47 billion, a P/E ratio of 80.94, a price-to-earnings-growth ratio of 0.79 and a beta of 1.10. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. As a group, analysts expect that Agnico Eagle Mines Limited will post 3.65 EPS 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.