Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) in the fourth quarter, Holdings Channel reports. The fund bought 3,217 shares of the mining company’s stock, valued at approximately $545,000.
Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $1,367,783,000. Capital World Investors grew its holdings in Agnico Eagle Mines by 20.0% during the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after purchasing an additional 3,462,968 shares during the period. Clearbridge Investments LLC grew its holdings in Agnico Eagle Mines by 60.5% during the fourth quarter. Clearbridge Investments LLC now owns 2,149,463 shares of the mining company’s stock valued at $364,398,000 after purchasing an additional 810,543 shares during the period. Lazard Asset Management LLC increased its position in Agnico Eagle Mines by 566.2% in the third quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company’s stock worth $149,593,000 after buying an additional 754,919 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Agnico Eagle Mines by 26,635.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 736,835 shares of the mining company’s stock valued at $124,916,000 after buying an additional 734,079 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.
Wall Street Analysts Forecast Growth
AEM has been the topic of a number of recent research reports. Erste Group Bank cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. TD Securities increased their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. TD increased their price target on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.08.
Agnico Eagle Mines Stock Performance
Shares of AEM stock opened at $162.70 on Friday. The stock has a market capitalization of $81.43 billion, a P/E ratio of 15.29, a PEG ratio of 3.46 and a beta of 0.56. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $190.08 and its 200 day moving average is $194.36. Agnico Eagle Mines Limited has a 12 month low of $114.60 and a 12 month high of $255.24.
Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. Agnico Eagle Mines’s revenue was up 66.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.53 EPS. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current year.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.
Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.
Featured Articles
- Five stocks we like better than Agnico Eagle Mines
- SpaceX Rings the Bell and Shatters Every Record
- Adobe Stock Just Got Cheaper—Is Wall Street Missing the Story?
- 3 Dividend Stocks Under $50 That Pay You to Wait Out Inflation
- The 127-Gigawatt Problem: Why AI Needs Its Own Power
Want to see what other hedge funds are holding AEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM).
Receive News & Ratings for Agnico Eagle Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agnico Eagle Mines and related companies with MarketBeat.com's FREE daily email newsletter.
