Agnico Eagle Mines Limited $AEM Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1,302.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 70,119 shares of the mining company’s stock after purchasing an additional 65,121 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Agnico Eagle Mines were worth $10,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital World Investors grew its holdings in Agnico Eagle Mines by 2.8% in the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock worth $3,618,730,000 after buying an additional 572,473 shares in the last quarter. Van ECK Associates Corp boosted its position in Agnico Eagle Mines by 21.6% during the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after acquiring an additional 3,062,705 shares during the period. TD Asset Management Inc boosted its position in Agnico Eagle Mines by 1.7% during the 4th quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock worth $1,641,239,000 after acquiring an additional 165,263 shares during the period. Deutsche Bank AG bought a new position in shares of Agnico Eagle Mines in the second quarter worth $1,362,158,000. Finally, Mackenzie Financial Corp grew its stake in shares of Agnico Eagle Mines by 4.0% in the fourth quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company’s stock worth $1,489,509,000 after purchasing an additional 332,797 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AEM shares. Raymond James Financial cut their price objective on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday. Citigroup lowered their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Scotia dropped their price target on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 3rd. Bank of America reduced their price target 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. Finally, UBS Group decreased their price objective on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.00.

Agnico Eagle Mines Trading Up 0.0%

Shares of Agnico Eagle Mines stock opened at $204.75 on Monday. The business has a fifty day simple moving average of $169.72 and a 200-day simple moving average of $186.84. Agnico Eagle Mines Limited has a fifty-two week low of $134.38 and a fifty-two week high of $255.24. The firm has a market cap of $103.79 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 2.55 and a beta of 0.67. 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 released its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the company earned $1.94 earnings per share. Agnico Eagle Mines’s revenue was up 35.0% compared to the same quarter last year. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

Agnico Eagle Mines 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.