Rockefeller Capital Management L.P. Grows Stock Position in Agnico Eagle Mines Limited $AEM

Rockefeller Capital Management L.P. raised its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 99.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,051 shares of the mining company’s stock after acquiring an additional 18,486 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Agnico Eagle Mines were worth $6,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors increased its stake in shares of Agnico Eagle Mines by 2.8% during the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock worth $3,618,730,000 after purchasing an additional 572,473 shares in the last quarter. Vanguard Group Inc. raised its position 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 purchasing an additional 309,717 shares during the last quarter. Van ECK Associates Corp lifted its stake in Agnico Eagle Mines by 21.6% in 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 buying an additional 3,062,705 shares in the last quarter. TD Asset Management Inc lifted its stake in 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 valued at $1,641,239,000 after buying an additional 165,263 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Agnico Eagle Mines by 4.0% during the 4th quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company’s stock valued at $1,489,509,000 after buying an additional 332,797 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

AEM has been the subject of several recent research reports. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. TD Securities upped their price objective on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Erste Group Bank cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. 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. Finally, Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $236.08.

Agnico Eagle Mines Stock Up 0.7%

AEM stock opened at $157.24 on Friday. The company has a 50 day moving average price of $180.30 and a two-hundred day moving average price of $193.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The stock has a market capitalization of $79.81 billion, a P/E ratio of 14.78, a PEG ratio of 3.43 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.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued 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 return on equity of 21.09% and a net margin of 39.46%.The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the company posted $1.53 EPS. The business’s revenue for the quarter was up 66.1% compared to the same quarter last year. As a group, sell-side analysts expect that Agnico Eagle Mines Limited will post 13.2 EPS 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.