292,007 Shares in Agnico Eagle Mines Limited $AEM Acquired by Man Group plc

Man Group plc acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 292,007 shares of the mining company’s stock, valued at approximately $45,312,000. Man Group plc owned 0.06% of Agnico Eagle Mines at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Deutsche Bank AG purchased a new stake in Agnico Eagle Mines in the second quarter valued at approximately $1,362,158,000. Norges Bank purchased a new stake in Agnico Eagle Mines in the 4th quarter worth approximately $1,367,783,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $927,602,000. The Manufacturers Life Insurance Company purchased a new position in shares of Agnico Eagle Mines during the 2nd quarter valued at approximately $608,054,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at $533,750,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AEM has been the topic of several recent analyst reports. Barclays lowered their target price on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Bank of America dropped their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce set a $285.00 price objective on Agnico Eagle Mines in a research report on Thursday, July 16th. Zacks Research downgraded Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Finally, Wall Street Zen lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given 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 Down 4.6%

NYSE AEM opened at $213.84 on Thursday. The business has a fifty day moving average price of $163.73 and a 200 day moving average price of $187.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The company has a market cap of $108.40 billion, a P/E ratio of 18.29, a P/E/G ratio of 2.79 and a beta of 0.60. Agnico Eagle Mines Limited has a one year low of $134.38 and a one year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced 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. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the company posted $1.94 EPS. The firm’s quarterly revenue was up 35.0% on a year-over-year basis. Research analysts anticipate that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal 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.