Agnico Eagle Mines Limited (NYSE:AEM) Shares Bought by Forsta AP Fonden

Forsta AP Fonden boosted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 78.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 192,900 shares of the mining company’s stock after buying an additional 85,000 shares during the quarter. Forsta AP Fonden’s holdings in Agnico Eagle Mines were worth $12,614,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Agnico Eagle Mines by 2.2% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock valued at $472,000 after buying an additional 158 shares in the last quarter. Banque Cantonale Vaudoise increased its position in Agnico Eagle Mines by 2.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock valued at $369,000 after buying an additional 169 shares in the last quarter. Azzad Asset Management Inc. ADV increased its position in Agnico Eagle Mines by 0.3% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock valued at $4,043,000 after buying an additional 189 shares in the last quarter. Baader Bank Aktiengesellschaft grew its stake in Agnico Eagle Mines by 4.8% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock valued at $269,000 after purchasing an additional 192 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its holdings in shares of Agnico Eagle Mines by 4.7% in the first quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock valued at $300,000 after purchasing an additional 226 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AEM has been the subject of a number of research reports. BMO Capital Markets decreased their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. CIBC lifted their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. StockNews.com upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group boosted their target price on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Finally, Royal Bank of Canada upped their price target on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.38.

Agnico Eagle Mines Stock Up 3.5 %

AEM opened at $81.86 on Friday. The company has a fifty day moving average of $76.95 and a two-hundred day moving average of $67.45. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. Agnico Eagle Mines Limited has a fifty-two week low of $43.22 and a fifty-two week high of $83.50. The stock has a market capitalization of $40.95 billion, a price-to-earnings ratio of 86.17, a PEG ratio of 0.75 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. Agnico Eagle Mines’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, research analysts expect that Agnico Eagle Mines Limited will post 3.65 earnings per share for the current year.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.