Forsta AP Fonden Buys 66,900 Shares of Agnico Eagle Mines Limited $AEM

Forsta AP Fonden raised its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 62.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,800 shares of the mining company’s stock after acquiring an additional 66,900 shares during the period. Forsta AP Fonden’s holdings in Agnico Eagle Mines were worth $29,512,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Salvus Wealth Management LLC lifted its stake in Agnico Eagle Mines by 0.9% during the 4th quarter. Salvus Wealth Management LLC now owns 6,301 shares of the mining company’s stock valued at $1,068,000 after acquiring an additional 57 shares in the last quarter. Brookwood Investment Group LLC lifted its stake in Agnico Eagle Mines by 4.5% during the 4th quarter. Brookwood Investment Group LLC now owns 1,361 shares of the mining company’s stock valued at $231,000 after acquiring an additional 58 shares in the last quarter. Baron Wealth Management LLC raised its stake in shares of Agnico Eagle Mines by 3.2% during 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 period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Agnico Eagle Mines by 1.1% during 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 period. Finally, Baker Ellis Asset Management LLC raised its stake in shares of Agnico Eagle Mines by 0.8% during 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 period. 68.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AEM. Barclays began coverage on Agnico Eagle Mines in a research note on Thursday, May 21st. They set an “overweight” rating and a $213.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. UBS Group lowered their target price on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. Weiss Ratings cut Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Finally, Scotiabank reiterated an “outperform” rating and set a $280.00 target price on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Trading Up 3.1%

Shares of Agnico Eagle Mines stock opened at $183.56 on Friday. Agnico Eagle Mines Limited has a 52-week low of $114.60 and a 52-week high of $255.24. The stock’s 50-day simple moving average is $195.01 and its 200 day simple moving average is $194.38. The stock has a market capitalization of $91.87 billion, a P/E ratio of 17.25, a P/E/G ratio of 3.88 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 announced 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 business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the business posted $1.53 EPS. The firm’s quarterly revenue was up 66.1% compared to the same quarter last year. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 13.14 EPS for the current year.

About Agnico Eagle Mines

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.