The Manufacturers Life Insurance Company Purchases New Position in Agnico Eagle Mines Limited $AEM

The Manufacturers Life Insurance Company bought a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,921,023 shares of the mining company’s stock, valued at approximately $608,054,000. The Manufacturers Life Insurance Company owned approximately 0.77% of Agnico Eagle Mines as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AEM. Acumen Wealth Advisors LLC bought a new stake in Agnico Eagle Mines during the 4th quarter valued at approximately $26,000. Dunhill Financial LLC bought a new position in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $31,000. Fiduciary Financial Advisors bought a new position in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $32,000. Jessup Wealth Management Inc purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. Finally, University of Texas Texas AM Investment Management Co. lifted its stake in shares of Agnico Eagle Mines by 64.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company’s stock valued at $39,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 0.8%

AEM opened at $217.76 on Tuesday. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average price of $161.95 and a 200-day moving average price of $186.83. Agnico Eagle Mines Limited has a twelve month low of $134.38 and a twelve month high of $255.24. The stock has a market capitalization of $110.38 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.69 and a beta of 0.61.

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

Analyst Ratings Changes

AEM has been the topic of a number of research reports. Royal Bank Of Canada dropped their target price on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Wall Street Zen cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Bank of America dropped their price objective on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Finally, Zacks Research cut shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus price target of $226.00.

Agnico Eagle Mines 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.