Mediolanum International Funds Ltd Has $22.12 Million Stake in Agnico Eagle Mines Limited $AEM

Mediolanum International Funds Ltd raised its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 295.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 189,961 shares of the mining company’s stock after purchasing an additional 141,950 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Agnico Eagle Mines were worth $22,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in Agnico Eagle Mines by 10.8% in the 2nd quarter. Legal & General Group Plc now owns 3,140,771 shares of the mining company’s stock valued at $373,460,000 after buying an additional 305,061 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Agnico Eagle Mines by 7.1% during the second quarter. Swiss National Bank now owns 1,529,258 shares of the mining company’s stock worth $181,497,000 after purchasing an additional 102,000 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Agnico Eagle Mines in the second quarter worth $1,937,000. Accordant Advisory Group Inc increased its holdings in Agnico Eagle Mines by 4.1% in the second quarter. Accordant Advisory Group Inc now owns 38,051 shares of the mining company’s stock valued at $4,525,000 after purchasing an additional 1,492 shares during the period. Finally, Saturna Capital Corp raised its position in Agnico Eagle Mines by 2.6% during the 2nd quarter. Saturna Capital Corp now owns 29,148 shares of the mining company’s stock worth $3,467,000 after purchasing an additional 752 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AEM shares. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Weiss Ratings upgraded shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, November 14th. Citigroup boosted their price target on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Bank of America lifted their target price on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Five research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $184.50.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $158.71 on Friday. Agnico Eagle Mines Limited has a 1-year low of $76.91 and a 1-year high of $187.50. The firm has a market capitalization of $79.61 billion, a P/E ratio of 23.17, a P/E/G ratio of 0.70 and a beta of 0.45. The firm’s 50-day moving average price is $164.39 and its 200-day moving average price is $139.06. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.