Alberta Investment Management Corp Takes $194.20 Million Position in Agnico Eagle Mines Limited $AEM

Alberta Investment Management Corp purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,145,114 shares of the mining company’s stock, valued at approximately $194,195,000. Alberta Investment Management Corp owned 0.23% of Agnico Eagle Mines as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AEM. Norges Bank bought a new position in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $1,367,783,000. Capital World Investors raised its stake in 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 valued at $3,497,470,000 after purchasing an additional 3,462,968 shares during the last quarter. Van ECK Associates Corp raised its stake in Agnico Eagle Mines by 21.6% during the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after purchasing an additional 3,062,705 shares during the last quarter. Clearbridge Investments LLC raised its stake in Agnico Eagle Mines by 60.5% during the 4th quarter. Clearbridge Investments LLC now owns 2,149,463 shares of the mining company’s stock valued at $364,398,000 after purchasing an additional 810,543 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in Agnico Eagle Mines by 566.2% during the 3rd quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company’s stock valued at $149,593,000 after purchasing an additional 754,919 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 5.6%

AEM opened at $171.68 on Tuesday. Agnico Eagle Mines Limited has a fifty-two week low of $114.60 and a fifty-two week high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The firm’s fifty day moving average price is $189.34 and its two-hundred day moving average price is $194.60. The company has a market capitalization of $85.92 billion, a P/E ratio of 16.14, a P/E/G ratio of 3.57 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the company earned $1.53 earnings per share. The business’s revenue was up 66.1% compared to the same quarter last year. On average, analysts anticipate that Agnico Eagle Mines Limited will post 13.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on AEM. Scotiabank reiterated an “outperform” rating and set a $280.00 target price on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. UBS Group cut 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. Wall Street Zen cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Saturday. Barclays began coverage on shares of Agnico Eagle Mines in a research note on Thursday, May 21st. They set an “overweight” rating and a $213.00 target price for the company. Finally, ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $236.08.

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.