Andra AP fonden Increases Stock Holdings in Agnico Eagle Mines Limited $AEM

Andra AP fonden lifted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 18.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 130,487 shares of the mining company’s stock after purchasing an additional 20,665 shares during the quarter. Andra AP fonden’s holdings in Agnico Eagle Mines were worth $22,121,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Altiora Financial Group LLC purchased a new position in Agnico Eagle Mines during the fourth quarter worth about $222,000. Principal Securities Inc. boosted its stake in Agnico Eagle Mines by 12.8% during the fourth quarter. Principal Securities Inc. now owns 5,131 shares of the mining company’s stock worth $870,000 after buying an additional 581 shares during the period. Aviva PLC boosted its stake in Agnico Eagle Mines by 6.9% during the fourth quarter. Aviva PLC now owns 427,640 shares of the mining company’s stock worth $72,577,000 after buying an additional 27,549 shares during the period. Kovack Advisors Inc. boosted its stake in Agnico Eagle Mines by 20.0% during the fourth quarter. Kovack Advisors Inc. now owns 3,339 shares of the mining company’s stock worth $524,000 after buying an additional 556 shares during the period. Finally, Xponance LLC purchased a new position in Agnico Eagle Mines during the fourth quarter worth about $811,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 3.4%

NYSE AEM opened at $157.60 on Friday. The firm has a 50 day simple moving average of $191.02 and a 200-day simple moving average of $194.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. Agnico Eagle Mines Limited has a one year low of $114.60 and a one year high of $255.24. The firm has a market cap of $78.88 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 3.35 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the firm posted $1.53 earnings per share. The business’s revenue for the quarter was up 66.1% compared to the same quarter last year. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 13.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AEM has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. TD increased their target price on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Zacks Research lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Scotiabank reaffirmed an “outperform” rating and set a $280.00 target price on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Finally, UBS Group lowered their target price 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 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.