Forsta AP Fonden Purchases 2,500 Shares of Agnico Eagle Mines Limited $AEM

Forsta AP Fonden increased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,600 shares of the mining company’s stock after buying an additional 2,500 shares during the quarter. Forsta AP Fonden’s holdings in Agnico Eagle Mines were worth $12,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new position in shares of Agnico Eagle Mines during the second quarter worth approximately $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at $26,000. City State Bank grew its holdings in shares of Agnico Eagle Mines by 69.2% during the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after purchasing an additional 110 shares during the last quarter. Finally, Dagco Inc. purchased a new position in Agnico Eagle Mines in the 1st quarter worth $39,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 3.2%

NYSE AEM opened at $173.29 on Thursday. Agnico Eagle Mines Limited has a 1 year low of $75.17 and a 1 year high of $187.50. The stock has a market capitalization of $87.07 billion, a PE ratio of 25.30, a PEG ratio of 0.70 and a beta of 0.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The business’s 50-day moving average is $162.78 and its 200 day moving average is $137.11.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.93 billion. During the same quarter last year, the business posted $1.14 EPS. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Wall Street Analyst Weigh In

AEM has been the subject of several analyst reports. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a research report on Friday, October 24th. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. TD Securities increased their target price on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Raymond James Financial boosted their price objective on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Four research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $184.50.

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.