EFG International AG acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 7,591 shares of the mining company’s stock, valued at approximately $1,178,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Agnico Eagle Mines by 1.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock valued at $893,000 after purchasing an additional 59 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Agnico Eagle Mines by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,284 shares of the mining company’s stock valued at $2,422,000 after purchasing an additional 63 shares during the period. Syon Capital LLC lifted its stake in shares of Agnico Eagle Mines by 1.8% in the fourth quarter. Syon Capital LLC now owns 3,675 shares of the mining company’s stock worth $623,000 after buying an additional 65 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Agnico Eagle Mines by 1.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company’s stock worth $728,000 after buying an additional 67 shares during the period. Finally, Rossby Financial LCC grew its stake in Agnico Eagle Mines by 1.1% in the 4th quarter. Rossby Financial LCC now owns 7,061 shares of the mining company’s stock valued at $1,197,000 after buying an additional 74 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Scotiabank cut their target price on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Canadian Imperial Bank of Commerce set a $285.00 price objective on Agnico Eagle Mines in a research note on Thursday, July 16th. Wall Street Zen cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and increased their target price for the company from $187.00 to $200.00 in a research note on Monday, July 6th. Finally, Royal Bank Of Canada lowered their target price on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.00.
Agnico Eagle Mines Stock Performance
NYSE AEM opened at $213.84 on Thursday. The company’s fifty day moving average is $163.73 and its two-hundred day moving average is $187.18. Agnico Eagle Mines Limited has a 52-week low of $134.38 and a 52-week high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The firm has a market capitalization of $108.40 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.79 and a beta of 0.60.
Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. The firm’s revenue for the quarter was up 35.0% on a year-over-year basis. Equities research analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS 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.
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