Agnico Eagle Mines Limited $AEM Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario grew its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 84.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,814 shares of the mining company’s stock after acquiring an additional 41,065 shares during the quarter. Investment Management Corp of Ontario’s holdings in Agnico Eagle Mines were worth $15,226,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AEM. Sumitomo Mitsui Trust Group Inc. increased its position in Agnico Eagle Mines by 42.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company’s stock worth $11,088,000 after purchasing an additional 19,647 shares during the last quarter. TD Asset Management Inc boosted its holdings in Agnico Eagle Mines by 1.5% in the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock valued at $1,600,436,000 after purchasing an additional 143,645 shares during the last quarter. Gunderson Capital Management Inc. boosted its holdings in Agnico Eagle Mines by 187.6% in the 4th quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company’s stock valued at $8,155,000 after purchasing an additional 31,378 shares during the last quarter. TB Alternative Assets Ltd. grew its stake in shares of Agnico Eagle Mines by 34.2% in the 4th quarter. TB Alternative Assets Ltd. now owns 229,630 shares of the mining company’s stock valued at $38,929,000 after buying an additional 58,490 shares during the period. Finally, Cannell & Spears LLC grew its stake in shares of Agnico Eagle Mines by 15.0% in the 3rd quarter. Cannell & Spears LLC now owns 559,751 shares of the mining company’s stock valued at $94,352,000 after buying an additional 72,932 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $173.08 on Thursday. 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 company has a market cap of $86.42 billion, a P/E ratio of 16.27, a P/E/G ratio of 3.86 and a beta of 0.56. The stock has a 50-day moving average of $187.98 and a two-hundred day moving average of $194.62. 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 issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the company earned $1.53 earnings per share. The business’s quarterly revenue was up 66.1% on a year-over-year basis. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 13.2 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on AEM shares. TD Securities lifted their price target on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Erste Group Bank lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Barclays assumed coverage on Agnico Eagle Mines in a research note on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price target on the stock. Finally, Wall Street Zen cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus price target 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.