Robotti Robert Invests $698,000 in Agnico Eagle Mines Limited $AEM

Robotti Robert bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,500 shares of the mining company’s stock, valued at approximately $698,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors increased its position in Agnico Eagle Mines by 2.8% during the fourth quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock worth $3,618,730,000 after acquiring an additional 572,473 shares during the period. Vanguard Group Inc. boosted its holdings in Agnico Eagle Mines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock valued at $3,557,772,000 after purchasing an additional 309,717 shares during the period. Van ECK Associates Corp boosted its holdings in Agnico Eagle Mines by 21.6% in the 4th 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 grew its position in shares of Agnico Eagle Mines by 1.7% during the 4th quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock worth $1,641,239,000 after purchasing an additional 165,263 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $1,362,158,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on AEM. Bank of America lowered their target price 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. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Wall Street Zen lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Barclays dropped their price objective on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Finally, TD upped their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $186.79 on Wednesday. The stock’s 50-day simple moving average is $157.75 and its 200 day simple moving average is $186.40. The firm has a market capitalization of $94.68 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.32 and a beta of 0.61. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a twelve month low of $130.04 and a twelve month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.89 by $0.16. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The business’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.94 earnings per share. On average, analysts anticipate that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

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.