Employees Provident Fund Board Buys Shares of 1,079,713 Agnico Eagle Mines Limited $AEM

Employees Provident Fund Board purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,079,713 shares of the mining company’s stock, valued at approximately $183,341,000. Employees Provident Fund Board owned approximately 0.22% of Agnico Eagle Mines at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AEM. Brighton Jones LLC grew its holdings in Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after acquiring an additional 331 shares during the last quarter. AQR Capital Management LLC raised its position in Agnico Eagle Mines by 36.4% during the 1st quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock worth $2,150,000 after purchasing an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Agnico Eagle Mines by 57.2% during the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock worth $379,000 after acquiring an additional 1,160 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Agnico Eagle Mines by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock worth $215,000 after purchasing an additional 134 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Agnico Eagle Mines by 25.2% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after buying an additional 187 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEM. Erste Group Bank lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. TD Securities lifted their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. increased their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, Barclays began coverage on shares of Agnico Eagle Mines in a research report on Thursday, May 21st. They set an “overweight” rating and a $213.00 price objective for the company. One investment 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 stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Price Performance

AEM stock opened at $166.63 on Friday. The stock has a market capitalization of $84.58 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 3.66 and a beta of 0.56. The company’s 50-day moving average is $186.15 and its 200-day moving average is $194.38. 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 Limited has a 1 year low of $114.60 and a 1 year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued 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. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the business posted $1.53 EPS. The firm’s revenue for the quarter was up 66.1% compared to the same quarter last year. Equities research analysts expect that Agnico Eagle Mines Limited will post 13.2 EPS for the current fiscal 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.