Agnico Eagle Mines Limited $AEM is Mufg Securities Canada LTD.’s 9th Largest Position

Mufg Securities Canada LTD. cut its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 765,186 shares of the mining company’s stock after selling 66,843 shares during the quarter. Agnico Eagle Mines accounts for approximately 3.6% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 9th largest position. Mufg Securities Canada LTD. owned 0.15% of Agnico Eagle Mines worth $129,791,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors boosted its stake 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 buying an additional 572,473 shares during the period. Vanguard Group Inc. boosted its stake in Agnico Eagle Mines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock worth $3,557,772,000 after buying an additional 309,717 shares during the period. Van ECK Associates Corp boosted its stake in Agnico Eagle Mines by 21.6% during the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after buying an additional 3,062,705 shares during the period. TD Asset Management Inc boosted its stake in Agnico Eagle Mines by 1.7% during the fourth quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock worth $1,641,239,000 after buying an additional 165,263 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Agnico Eagle Mines by 0.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,629,935 shares of the mining company’s stock worth $1,463,166,000 after buying an additional 40,190 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

AEM stock opened at $162.70 on Monday. 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 business has a 50-day moving average price of $190.08 and a 200 day moving average price of $194.56. The company has a market capitalization of $81.43 billion, a P/E ratio of 15.29, a PEG ratio of 3.57 and a beta of 0.56. Agnico Eagle Mines Limited has a 1-year low of $114.60 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm’s quarterly revenue was up 66.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.53 earnings per share. As a group, equities research analysts forecast that Agnico Eagle Mines Limited will post 13.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AEM has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. TD lifted their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Erste Group Bank lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce lifted their target price on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.08.

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.