Forsta AP Fonden Has $29.51 Million Stake in Agnico Eagle Mines Limited $AEM

Forsta AP Fonden lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 62.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 173,800 shares of the mining company’s stock after buying an additional 66,900 shares during the quarter. Forsta AP Fonden’s holdings in Agnico Eagle Mines were worth $29,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Agnico Eagle Mines by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock worth $3,557,772,000 after buying an additional 309,717 shares during the period. Capital World Investors grew its position in shares of Agnico Eagle Mines by 20.0% during the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after buying an additional 3,462,968 shares during the period. TD Asset Management Inc grew its position in shares of Agnico Eagle Mines by 1.5% during the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after buying an additional 143,645 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Agnico Eagle Mines by 3.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,589,745 shares of the mining company’s stock worth $1,447,494,000 after buying an additional 292,949 shares during the period. Finally, Norges Bank acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $1,367,783,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $183.56 on Friday. The stock has a market cap of $91.87 billion, a P/E ratio of 17.25, a P/E/G ratio of 3.88 and a beta of 0.58. The business’s fifty day moving average is $195.01 and its 200 day moving average is $194.38. Agnico Eagle Mines Limited has a 12-month low of $114.60 and a 12-month high of $255.24. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the business earned $1.53 EPS. The business’s revenue was up 66.1% on a year-over-year basis. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 13.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AEM shares. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Scotiabank reiterated an “outperform” rating and issued a $280.00 target price on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. Finally, TD increased their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.08.

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.