Korea Investment CORP Acquires 145,460 Shares of Agnico Eagle Mines Limited $AEM

Korea Investment CORP lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 55.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 407,872 shares of the mining company’s stock after acquiring an additional 145,460 shares during the period. Korea Investment CORP owned 0.08% of Agnico Eagle Mines worth $48,496,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cadinha & Co. LLC increased its stake in Agnico Eagle Mines by 2.8% during the second quarter. Cadinha & Co. LLC now owns 3,211 shares of the mining company’s stock valued at $382,000 after acquiring an additional 86 shares during the period. City State Bank boosted its stake in shares of Agnico Eagle Mines by 69.2% in the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after purchasing an additional 110 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of Agnico Eagle Mines by 2.3% in the 2nd quarter. Wedbush Securities Inc. now owns 5,003 shares of the mining company’s stock worth $595,000 after purchasing an additional 113 shares during the last quarter. Rhumbline Advisers increased its position in shares of Agnico Eagle Mines by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock worth $215,000 after purchasing an additional 134 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Agnico Eagle Mines by 2.0% during the 1st quarter. US Bancorp DE now owns 6,908 shares of the mining company’s stock worth $749,000 after purchasing an additional 138 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $173.07 on Friday. The company has a market cap of $86.82 billion, a PE ratio of 25.27, a PEG ratio of 0.70 and a beta of 0.45. 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 Limited has a 1 year low of $76.91 and a 1 year high of $187.50. The company’s 50-day moving average is $165.80 and its two-hundred day moving average is $140.83.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on AEM shares. Citigroup boosted their price target on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. CIBC boosted their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Five 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines 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.