AMP Capital Investors Ltd grew its stake in shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 151,727 shares of the mining company’s stock after acquiring an additional 10,734 shares during the quarter. AMP Capital Investors Ltd owned about 0.06% of Agnico Eagle Mines worth $5,174,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in AEM. Dimensional Fund Advisors LP raised its holdings in Agnico Eagle Mines by 119.0% in the third quarter. Dimensional Fund Advisors LP now owns 470,186 shares of the mining company’s stock worth $16,080,000 after purchasing an additional 255,488 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in Agnico Eagle Mines by 10.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,001,998 shares of the mining company’s stock worth $34,229,000 after purchasing an additional 95,834 shares in the last quarter. Pictet Asset Management Ltd. purchased a new position in shares of Agnico Eagle Mines during the 3rd quarter valued at approximately $3,218,000. Korea Investment CORP lifted its position in shares of Agnico Eagle Mines by 335.4% during the 3rd quarter. Korea Investment CORP now owns 140,872 shares of the mining company’s stock valued at $4,808,000 after buying an additional 108,516 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Agnico Eagle Mines by 253.1% during the 3rd quarter. Schroder Investment Management Group now owns 224,450 shares of the mining company’s stock valued at $7,828,000 after buying an additional 160,877 shares in the last quarter. 60.20% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently commented on AEM shares. JPMorgan Chase & Co. reduced their price objective on Agnico Eagle Mines from $65.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, September 17th. TheStreet downgraded Agnico Eagle Mines from a “b-” rating to a “c+” rating in a research report on Wednesday, September 5th. Citigroup cut their price objective on Agnico Eagle Mines from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, August 29th. Credit Suisse Group restated an “outperform” rating on shares of Agnico Eagle Mines in a report on Monday, September 10th. Finally, Royal Bank of Canada restated a “buy” rating and set a $54.00 target price on shares of Agnico Eagle Mines in a report on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.25.
NYSE:AEM opened at $39.92 on Monday. The company has a market capitalization of $9.36 billion, a PE ratio of 35.96 and a beta of -0.56. The company has a current ratio of 2.94, a quick ratio of 1.88 and a debt-to-equity ratio of 0.35. Agnico Eagle Mines Ltd has a 12-month low of $32.18 and a 12-month high of $49.80.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 24th. The mining company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.06. The business had revenue of $518.68 million for the quarter, compared to analyst estimates of $497.68 million. Agnico Eagle Mines had a return on equity of 1.75% and a net margin of 4.60%. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. Equities analysts predict that Agnico Eagle Mines Ltd will post 0.18 earnings per share for the current year.
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Agnico Eagle Mines Company Profile
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
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