Agnico Eagle Mines Limited $AEM Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 134.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,483 shares of the mining company’s stock after buying an additional 86,394 shares during the quarter. Principal Financial Group Inc.’s holdings in Agnico Eagle Mines were worth $30,448,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after acquiring an additional 331 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Agnico Eagle Mines by 36.4% in the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after purchasing an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Agnico Eagle Mines by 57.2% in the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after purchasing an additional 1,160 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Agnico Eagle Mines by 8.0% in the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after purchasing an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Agnico Eagle Mines by 25.2% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after purchasing an additional 187 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $136.89 on Monday. Agnico Eagle Mines Limited has a 12-month low of $117.65 and a 12-month high of $255.24. The stock has a market capitalization of $69.48 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.82 and a beta of 0.60. The firm’s 50-day moving average is $165.41 and its two-hundred day moving average is $191.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company’s revenue was up 66.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 earnings per share. Equities analysts predict that Agnico Eagle Mines Limited will post 12.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AEM. Bank of America dropped their price objective on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Scotiabank reduced their target price on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Scotia dropped their price target on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research report on Friday, July 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average target price 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.