DJE Kapital AG Cuts Stock Position in Agnico Eagle Mines Limited $AEM

DJE Kapital AG lessened its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 36.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 524,869 shares of the mining company’s stock after selling 299,767 shares during the period. Agnico Eagle Mines accounts for 2.5% of DJE Kapital AG’s investment portfolio, making the stock its 16th largest position. DJE Kapital AG owned about 0.10% of Agnico Eagle Mines worth $89,666,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Capital World Investors lifted its position 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 valued at $3,618,730,000 after buying an additional 572,473 shares during the last quarter. Vanguard Group Inc. lifted 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 valued at $3,557,772,000 after buying an additional 309,717 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Agnico Eagle Mines by 1.7% during 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 during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Agnico Eagle Mines by 3.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,589,745 shares of the mining company’s stock valued at $1,447,494,000 after buying an additional 292,949 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Agnico Eagle Mines by 4.2% during the 4th quarter. Deutsche Bank AG now owns 8,570,961 shares of the mining company’s stock valued at $1,453,035,000 after buying an additional 345,362 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $157.60 on Friday. 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 Limited has a 52-week low of $114.60 and a 52-week high of $255.24. The firm has a market cap of $78.88 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 3.35 and a beta of 0.56. The business’s fifty day moving average is $191.02 and its 200 day moving average is $194.59.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company posted $1.53 EPS. The firm’s revenue for the quarter was up 66.1% compared to the same quarter last year. Research analysts predict that Agnico Eagle Mines Limited will post 13.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AEM. 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 dropped their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. JPMorgan Chase & Co. upped their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Scotiabank reaffirmed an “outperform” rating and set a $280.00 price target on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Finally, Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $236.08.

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.