Osmosis Investment Management UK Ltd Takes $6.99 Million Position in Agnico Eagle Mines Limited $AEM

Osmosis Investment Management UK Ltd acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 45,011 shares of the mining company’s stock, valued at approximately $6,991,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Saranac Partners Ltd acquired a new stake in Agnico Eagle Mines in the second quarter valued at $1,927,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth about $927,602,000. Te Ahumairangi Investment Management Ltd acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth about $4,846,000. Bank of Nova Scotia purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at about $234,829,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at about $1,630,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 0.4%

NYSE:AEM opened at $217.02 on Monday. The company has a market capitalization of $110.01 billion, a PE ratio of 18.56, a P/E/G ratio of 2.69 and a beta of 0.61. Agnico Eagle Mines Limited has a 52-week low of $133.80 and a 52-week high of $255.24. The stock’s 50 day moving average price is $161.03 and its 200 day moving average price is $186.68. 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 (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The firm’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 earnings per share. On average, research analysts anticipate that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AEM. JPMorgan Chase & Co. raised their target price on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Bank of America lowered their price target on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce set a $285.00 price target on shares of Agnico Eagle Mines in a research note on Thursday, July 16th. Royal Bank Of Canada cut their price objective on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Finally, Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $226.00.

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.