Erste Asset Management GmbH Has $21.31 Million Stock Position in Agnico Eagle Mines Limited $AEM

Erste Asset Management GmbH trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,249 shares of the mining company’s stock after selling 10,730 shares during the quarter. Erste Asset Management GmbH’s holdings in Agnico Eagle Mines were worth $21,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors lifted its stake in shares of Agnico Eagle Mines by 2.8% in the fourth quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock worth $3,618,730,000 after buying an additional 572,473 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Agnico Eagle Mines by 1.5% in the fourth 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 last quarter. TD Asset Management Inc lifted its stake in shares of Agnico Eagle Mines by 1.7% in the fourth quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock worth $1,641,239,000 after buying an additional 165,263 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Agnico Eagle Mines by 3.5% in the third 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 last quarter. Finally, Norges Bank acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $1,367,783,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of analyst reports. Wall Street Zen cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. TD Securities boosted their price objective on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Finally, UBS Group reduced their price objective on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $236.08.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $162.07 on Tuesday. The stock has a market cap of $81.11 billion, a P/E ratio of 15.23, a PEG ratio of 3.60 and a beta of 0.56. Agnico Eagle Mines Limited has a one year low of $114.60 and a one year high of $255.24. The company has a fifty day moving average price of $193.38 and a 200 day moving average price of $194.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating the consensus estimate of $3.19 by $0.21. The firm had revenue of $4 billion during 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%. The business’s quarterly revenue was up 66.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.53 EPS. Analysts anticipate that Agnico Eagle Mines Limited will post 13.18 earnings per share for the current year.

Agnico Eagle Mines 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.