Legal & General Group Plc Increases Stock Position in Agnico Eagle Mines Limited $AEM

Legal & General Group Plc raised its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,491,203 shares of the mining company’s stock after buying an additional 111,892 shares during the quarter. Legal & General Group Plc’s holdings in Agnico Eagle Mines were worth $592,822,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AEM. Salvus Wealth Management LLC raised its position in shares of Agnico Eagle Mines by 0.9% in the 4th quarter. Salvus Wealth Management LLC now owns 6,301 shares of the mining company’s stock worth $1,068,000 after purchasing an additional 57 shares during the last quarter. Brookwood Investment Group LLC raised its position in shares of Agnico Eagle Mines by 4.5% in the 4th quarter. Brookwood Investment Group LLC now owns 1,361 shares of the mining company’s stock worth $231,000 after purchasing an additional 58 shares during the last quarter. Baron Wealth Management LLC raised its position in shares of Agnico Eagle Mines by 3.2% in the 4th quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company’s stock worth $319,000 after purchasing an additional 59 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Agnico Eagle Mines by 1.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock worth $893,000 after purchasing an additional 59 shares during the last quarter. Finally, Baker Ellis Asset Management LLC raised its position in shares of Agnico Eagle Mines by 0.8% in the 4th quarter. Baker Ellis Asset Management LLC now owns 7,550 shares of the mining company’s stock worth $1,280,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays assumed coverage on Agnico Eagle Mines in a research report on Thursday. They issued an “overweight” rating and a $213.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. TD Securities lifted their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. UBS Group lowered their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. Finally, Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $175.79 on Tuesday. Agnico Eagle Mines Limited has a one year low of $114.60 and a one year high of $255.24. The stock has a 50-day moving average of $197.11 and a 200 day moving average of $194.08. The company has a market capitalization of $87.98 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 3.84 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping 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 company earned $1.53 EPS. Agnico Eagle Mines’s revenue for the quarter was up 66.1% on a year-over-year basis. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 13.14 EPS for the current year.

Agnico Eagle Mines Company 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.