Agnico Eagle Mines Limited $AEM Stock Position Lifted by Ninety One UK Ltd

Ninety One UK Ltd grew its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 386.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 188,189 shares of the mining company’s stock after purchasing an additional 149,506 shares during the period. Ninety One UK Ltd’s holdings in Agnico Eagle Mines were worth $31,703,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Agnico Eagle Mines during the 2nd quarter valued at about $938,644,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Agnico Eagle Mines by 38.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock worth $987,398,000 after acquiring an additional 2,319,131 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Agnico Eagle Mines by 48.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock valued at $538,506,000 after acquiring an additional 1,474,385 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Agnico Eagle Mines by 53.1% in the second quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock valued at $495,230,000 after acquiring an additional 1,444,746 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of Agnico Eagle Mines during the second quarter valued at approximately $134,059,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $169.55 on Thursday. Agnico Eagle Mines Limited has a 1 year low of $77.14 and a 1 year high of $187.50. The business’s fifty day moving average is $167.71 and its two-hundred day moving average is $150.39. The stock has a market capitalization of $85.07 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.62 and a beta of 0.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.40. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.During the same period last year, the company posted $1.14 EPS. On average, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on AEM shares. Jefferies Financial Group set a $189.00 target price on Agnico Eagle Mines in a report on Sunday, December 7th. Citigroup lifted their price target on Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 4th. CIBC raised their target price on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Six equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Buy” and a consensus target price of $201.60.

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.