Agnico Eagle Mines Limited $AEM Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC increased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 60.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,149,463 shares of the mining company’s stock after acquiring an additional 810,543 shares during the quarter. Clearbridge Investments LLC’s holdings in Agnico Eagle Mines were worth $364,398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEM. Norges Bank acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth $1,367,783,000. Capital World Investors grew its stake in shares of Agnico Eagle Mines by 20.0% during the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after purchasing an additional 3,462,968 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Agnico Eagle Mines by 566.2% during the third quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company’s stock worth $149,593,000 after purchasing an additional 754,919 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Agnico Eagle Mines by 26,635.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 736,835 shares of the mining company’s stock worth $124,916,000 after purchasing an additional 734,079 shares in the last quarter. Finally, Korea Investment CORP grew its stake in shares of Agnico Eagle Mines by 138.5% during the third quarter. Korea Investment CORP now owns 972,595 shares of the mining company’s stock worth $163,847,000 after purchasing an additional 564,723 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analysts Set New Price Targets

AEM has been the subject of a number of analyst reports. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Canadian Imperial Bank of Commerce boosted their target price on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. TD boosted their target price 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. UBS Group decreased their price objective on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Finally, Wall Street Zen downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $236.08.

Trending Headlines about Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Agnico Eagle approved an investment decision for its Hope Bay project, a new underground mine with a 6,000-tonne-per-day processing facility, which could support longer-term production growth. Agnico Eagle Mines (AEM) Approves Investment for Hope Bay Gold Project
• Positive Sentiment: CIBC lifted its price target on Agnico Eagle Mines and kept an Outperform rating, signaling confidence in the company’s operating strength and future upside. Is Agnico Eagle Mines Limited (AEM) among the Best Silver and Copper Stocks to Buy for the EV Transition?
• Positive Sentiment: Recent market coverage highlighted strong analyst support, hedge fund interest, and favorable long-term growth investments, which may be reinforcing bullish sentiment around the stock. Agnico Eagle Mines (AEM) Ends May With Strong Analyst Support
• Neutral Sentiment: Agnico Eagle entered a $5 million royalty purchase agreement with Prism Resources tied to properties in Ontario; the deal is modest in size and appears more like a capital structure/royalty cleanup transaction than a major operational shift. AGNICO EAGLE UPDATES EARLY WARNING REPORT IN RESPECT OF PRISM RESOURCES INC.
• Neutral Sentiment: Several articles noted that AEM has been trending among retail investors and outpacing the broader market, but these pieces were mostly commentary rather than new fundamental information. Agnico Eagle Mines (AEM) Outpaces Stock Market Gains: What You Should Know

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $163.39 on Friday. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The firm has a market cap of $81.77 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 3.60 and a beta of 0.56. The company’s 50 day simple moving average is $193.89 and its 200-day simple moving average is $194.53. Agnico Eagle Mines Limited has a 12-month low of $114.60 and a 12-month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion for 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 for the quarter was up 66.1% compared to the same quarter last year. During the same period last year, the firm posted $1.53 earnings per share. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 13.18 EPS for the current year.

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.