Andra AP fonden makes a new $5.16 million investment in Agnico Eagle Mines Limited (NYSE:AEM)

Andra AP fonden purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 78,922 shares of the mining company’s stock, valued at approximately $5,161,000.

A number of other institutional investors have also made changes to their positions in AEM. LGT Fund Management Co Ltd. acquired a new stake in Agnico Eagle Mines in the second quarter valued at $3,433,000. United Services Automobile Association grew its position in shares of Agnico Eagle Mines by 5.0% in the second quarter. United Services Automobile Association now owns 18,884 shares of the mining company’s stock worth $1,235,000 after acquiring an additional 907 shares in the last quarter. Choreo LLC boosted its stake in Agnico Eagle Mines by 255.0% in the second quarter. Choreo LLC now owns 16,002 shares of the mining company’s stock worth $1,042,000 after acquiring an additional 11,494 shares during the last quarter. Wedbush Securities Inc. purchased a new position in shares of Agnico Eagle Mines in the second quarter valued at about $665,000. Finally, Triasima Portfolio Management inc. boosted its holdings in Agnico Eagle Mines by 4.1% in the second quarter. Triasima Portfolio Management inc. now owns 320,300 shares of the mining company’s stock valued at $20,940,000 after purchasing an additional 12,740 shares in the last quarter. 68.34% of shares are owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

AEM opened at $79.10 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.51, and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $76.67 and its 200-day moving average price is $67.35. Agnico Eagle Mines Limited has a fifty-two week low of $43.22 and a fifty-two week high of $83.50. The firm has a market cap of $39.61 billion, a price-to-earnings ratio of 83.26, a price-to-earnings-growth ratio of 0.75 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM – Get Your Free Report ) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm earned $0.65 EPS. The company’s quarterly revenue was up 20.9% year over year. As a group, sell-side analysts expect that Agnico Eagle Mines Limited will post 3.65 earnings per share for the current year.

Analyst upgrades and downgrades

A number of equities analysts have issued reports on AEM shares. Royal Bank of Canada boosted their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday. StockNews.com raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. CIBC raised their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. BMO Capital Markets cut their price target on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Finally, Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Moderate Buy” and a consensus price target of $83.38, according to MarketBeat.com.

See our latest report on Agnico Eagle Mines

About Agnico Eagle Mines

(Free Report)

Agnico Eagle Mines Limited, a gold mining, precious metals exploration, development and production company. Explore for gold. The company’s mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America and the United States.

Further reading

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