Blueshift Asset Management LLC Takes $769,000 Position in Agnico Eagle Mines Limited $AEM

Blueshift Asset Management LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 6,468 shares of the mining company’s stock, valued at approximately $769,000.

A number of other large investors have also added to or reduced their stakes in AEM. Norges Bank acquired a new position in Agnico Eagle Mines in the 2nd quarter valued at $938,644,000. Arrowstreet Capital Limited Partnership increased its holdings in Agnico Eagle Mines by 38.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after buying an additional 2,319,131 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $134,059,000. Canada Pension Plan Investment Board increased its stake in Agnico Eagle Mines by 57.4% in the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock valued at $254,029,000 after acquiring an additional 854,924 shares during the last quarter. Finally, Nuveen LLC bought a new position in Agnico Eagle Mines in the first quarter valued at approximately $85,926,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AEM. Bank of America raised their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Agnico Eagle Mines in a research report on Wednesday, November 26th. Raymond James Financial increased their target price on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Finally, Citigroup upped their price objective on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Five investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $185.50.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $169.70 on Wednesday. The stock’s 50-day moving average is $166.42 and its 200-day moving average is $142.71. Agnico Eagle Mines Limited has a 1-year low of $76.91 and a 1-year high of $187.50. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The stock has a market cap of $85.13 billion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 0.63 and a beta of 0.64.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the company earned $1.14 EPS. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines 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.