First Trust Bank Ltd. Buys Shares of 37,232 Agnico Eagle Mines Limited (NYSE:AEM)

First Trust Bank Ltd. bought a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, Holdings Channel reports. The institutional investor bought 37,232 shares of the mining company’s stock, valued at approximately $2,042,000. Agnico Eagle Mines accounts for approximately 2.8% of First Trust Bank Ltd.’s holdings, making the stock its 11th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AEM. Bruce G. Allen Investments LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth about $33,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $34,000. CVA Family Office LLC bought a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $36,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $49,000. Finally, Anchor Investment Management LLC bought a new position in Agnico Eagle Mines in the 4th quarter valued at $55,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. BMO Capital Markets raised their price objective on shares of Agnico Eagle Mines from $78.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday. Scotiabank lifted their price target on shares of Agnico Eagle Mines from $71.00 to $81.00 and gave the company a “sector outperform” rating in a research report on Thursday. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Finally, TD Securities lifted their price target on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $72.22.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM traded up $0.39 during midday trading on Friday, reaching $67.71. 1,656,162 shares of the company were exchanged, compared to its average volume of 3,128,539. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. Agnico Eagle Mines Limited has a one year low of $43.22 and a one year high of $71.50. The stock has a market cap of $33.81 billion, a P/E ratio of 71.33, a PEG ratio of 0.71 and a beta of 1.04. The stock’s 50-day moving average price is $62.97 and its 200-day moving average price is $55.09.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 3.17 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.