Metis Global Partners LLC Boosts Stock Position in Agnico Eagle Mines Limited $AEM

Metis Global Partners LLC raised its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,085 shares of the mining company’s stock after purchasing an additional 7,075 shares during the period. Metis Global Partners LLC’s holdings in Agnico Eagle Mines were worth $7,516,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AEM. TD Asset Management Inc increased its stake in shares of Agnico Eagle Mines by 42.8% in the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock worth $978,553,000 after buying an additional 2,709,005 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Agnico Eagle Mines by 57.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock worth $254,029,000 after acquiring an additional 854,924 shares in the last quarter. Nuveen LLC bought a new stake in shares of Agnico Eagle Mines in the 1st quarter worth about $85,926,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Agnico Eagle Mines by 11.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company’s stock valued at $728,214,000 after purchasing an additional 673,400 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Agnico Eagle Mines by 3.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company’s stock valued at $1,457,160,000 after purchasing an additional 499,362 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 1.2%

NYSE:AEM opened at $161.28 on Friday. The stock 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. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. Agnico Eagle Mines Limited has a 1 year low of $75.17 and a 1 year high of $187.50. The business has a fifty day moving average of $161.41 and a 200-day moving average of $135.94.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its 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. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. During the same quarter in the prior year, the firm posted $1.14 EPS. Equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a research note on Friday, October 24th. Bank of America lifted their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. TD Securities increased their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, UBS Group lifted their price objective on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Four investment 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 company currently has an average rating of “Buy” and an average target price of $184.50.

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.