Capital World Investors Boosts Position in Agnico Eagle Mines Limited $AEM

Capital World Investors boosted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.8% in the fourth quarter, Holdings Channel reports. The fund owned 21,338,277 shares of the mining company’s stock after purchasing an additional 572,473 shares during the quarter. Capital World Investors’ holdings in Agnico Eagle Mines were worth $3,618,730,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of AEM. Brighton Jones LLC increased its position in Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after acquiring an additional 331 shares during the last quarter. AQR Capital Management LLC increased its position in Agnico Eagle Mines by 36.4% during the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after acquiring an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC increased its position in Agnico Eagle Mines by 57.2% during the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after acquiring an additional 1,160 shares during the last quarter. Rhumbline Advisers increased its position in Agnico Eagle Mines by 8.0% during the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after acquiring an additional 134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Agnico Eagle Mines by 25.2% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after acquiring an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on AEM shares. TD Securities upped their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Scotiabank restated an “outperform” rating and issued a $280.00 price target on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. Barclays started coverage on Agnico Eagle Mines in a research report on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price target for the company. Finally, Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $163.39 on Friday. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $193.89 and a two-hundred day simple moving average of $194.53. The stock has a market cap of $81.77 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 3.60 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 results 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 business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business’s quarterly revenue was up 66.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.53 earnings per share. On average, analysts expect that Agnico Eagle Mines Limited will post 13.18 EPS for the current year.

Agnico Eagle Mines News Roundup

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 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.