Headlands Technologies LLC Takes Position in Agnico Eagle Mines Limited $AEM

Headlands Technologies LLC purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, Holdings Channel.com reports. The fund purchased 3,011 shares of the mining company’s stock, valued at approximately $467,000.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors lifted its holdings in Agnico Eagle Mines by 2.8% in the fourth quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock valued at $3,618,730,000 after acquiring an additional 572,473 shares during the last quarter. Van ECK Associates Corp raised its position in Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after purchasing an additional 3,062,705 shares during the period. TD Asset Management Inc lifted its stake in shares of Agnico Eagle Mines by 1.7% in 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 purchasing an additional 165,263 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at $1,362,158,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Agnico Eagle Mines by 4.0% during the 4th quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company’s stock worth $1,489,509,000 after purchasing an additional 332,797 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

AEM stock opened at $196.41 on Thursday. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $99.56 billion, a PE ratio of 16.80, a P/E/G ratio of 2.41 and a beta of 0.67. Agnico Eagle Mines Limited has a 12-month low of $134.38 and a 12-month high of $255.24. The business’s fifty day moving average price is $167.75 and its 200 day moving average price is $186.99.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results 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 period last year, the business posted $1.94 EPS. Agnico Eagle Mines’s revenue for the quarter was up 35.0% on a year-over-year basis. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AEM shares. Bank of America reduced 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 report on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Zacks Research cut shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Finally, 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. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus price target of $226.00.

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.