Andra AP fonden Decreases Holdings in Agnico Eagle Mines Limited $AEM

Andra AP fonden lowered its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,561 shares of the mining company’s stock after selling 4,926 shares during the period. Andra AP fonden’s holdings in Agnico Eagle Mines were worth $25,486,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Capital World Investors grew its holdings in 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 valued at $3,618,730,000 after purchasing an additional 572,473 shares during the last quarter. Vanguard Group Inc. raised its stake 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 last quarter. Van ECK Associates Corp raised its stake in shares of 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 worth $2,920,258,000 after buying an additional 3,062,705 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Agnico Eagle Mines by 1.7% in the 4th 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 in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Agnico Eagle Mines by 4.0% in the 4th quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company’s stock worth $1,489,509,000 after buying an additional 332,797 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AEM has been the subject of a number of research reports. Wall Street Zen cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Zacks Research lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Scotiabank dropped their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Finally, Bank of America lowered their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $233.62.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $136.25 on Tuesday. The business’s 50-day moving average price is $164.20 and its 200 day moving average price is $191.31. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a twelve month low of $119.84 and a twelve month high of $255.24. The company has a market capitalization of $69.15 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.82 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. Agnico Eagle Mines’s revenue was up 66.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 earnings per share. On average, research analysts predict that Agnico Eagle Mines Limited will post 12.29 earnings per share for the current year.

About Agnico Eagle Mines

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.