Swiss National Bank Grows Holdings in Agnico Eagle Mines Limited $AEM

Swiss National Bank lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 26.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,689,958 shares of the mining company’s stock after purchasing an additional 357,200 shares during the quarter. Swiss National Bank’s holdings in Agnico Eagle Mines were worth $342,528,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Acumen Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines in the 4th quarter valued at approximately $26,000. Lodestone Wealth Management LLC acquired a new position in Agnico Eagle Mines during the fourth quarter worth $35,000. Jessup Wealth Management Inc purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth $35,000. Abound Wealth Management boosted its position in shares of Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after buying an additional 104 shares during the period. Finally, Bangor Savings Bank acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

AEM stock opened at $136.89 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The firm has a market capitalization of $69.48 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.81 and a beta of 0.60. The business’s 50-day moving average is $165.41 and its two-hundred day moving average is $191.42. Agnico Eagle Mines Limited has a 1 year low of $117.65 and a 1 year high of $255.24.

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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter last year, the business posted $1.53 EPS. The business’s quarterly revenue was up 66.1% compared to the same quarter last year. Analysts anticipate that Agnico Eagle Mines Limited will post 12.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce set a $285.00 target price on Agnico Eagle Mines in a research report on Thursday. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Finally, Zacks Research lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $233.62.

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.