Capital International Investors Buys 62,938 Shares of Agnico Eagle Mines Limited $AEM

Capital International Investors boosted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 34.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 247,724 shares of the mining company’s stock after acquiring an additional 62,938 shares during the period. Capital International Investors’ holdings in Agnico Eagle Mines were worth $42,010,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Agnico Eagle Mines by 42.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company’s stock valued at $11,088,000 after purchasing an additional 19,647 shares during the last quarter. TD Asset Management Inc grew its position in Agnico Eagle Mines by 1.5% during the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after acquiring an additional 143,645 shares during the last quarter. Gunderson Capital Management Inc. grew its position in Agnico Eagle Mines by 187.6% during the 4th quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company’s stock worth $8,155,000 after acquiring an additional 31,378 shares during the last quarter. TB Alternative Assets Ltd. grew its position in Agnico Eagle Mines by 34.2% during the 4th quarter. TB Alternative Assets Ltd. now owns 229,630 shares of the mining company’s stock worth $38,929,000 after acquiring an additional 58,490 shares during the last quarter. Finally, Candriam S.C.A. grew its position in Agnico Eagle Mines by 26.4% during the 3rd quarter. Candriam S.C.A. now owns 218,303 shares of the mining company’s stock worth $36,776,000 after acquiring an additional 45,585 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $159.65 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The stock has a 50 day moving average price of $192.71 and a two-hundred day moving average price of $194.65. The firm has a market capitalization of $79.90 billion, a P/E ratio of 15.00, a P/E/G ratio of 3.57 and a beta of 0.56. Agnico Eagle Mines Limited has a 52 week low of $114.60 and a 52 week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company’s revenue for the quarter was up 66.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.53 EPS. Equities analysts forecast that Agnico Eagle Mines Limited will post 13.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Canadian Imperial Bank of Commerce boosted their price objective on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. TD Securities lifted their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Finally, Barclays assumed coverage on Agnico Eagle Mines in a research note on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $236.08.

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.