44,645 Shares in Agnico Eagle Mines Limited $AEM Purchased by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, Holdings Channel.com reports. The fund bought 44,645 shares of the mining company’s stock, valued at approximately $6,923,000. Agnico Eagle Mines accounts for 1.0% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Deutsche Bank AG acquired a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at approximately $1,362,158,000. Norges Bank bought a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $1,367,783,000. Van ECK Associates Corp raised its position in Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after purchasing an additional 3,062,705 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $194,195,000. Finally, Employees Provident Fund Board acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth $183,341,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on AEM. Scotiabank cut their price objective on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Barclays reduced their target price on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Royal Bank Of Canada reduced their price target on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a research report on Thursday, July 9th. Citigroup decreased their price objective on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a report on Monday, July 27th. Finally, Scotia reduced their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research note on Friday, July 3rd. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $189.12 on Tuesday. Agnico Eagle Mines Limited has a 1 year low of $130.04 and a 1 year high of $255.24. The stock’s fifty day moving average price is $157.21 and its two-hundred day moving average price is $186.66. The firm has a market cap of $95.86 billion, a PE ratio of 16.18, a PEG ratio of 2.32 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.16. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The business’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.94 earnings per share. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS 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.