Korea Investment CORP Sells 497,837 Shares of Agnico Eagle Mines Limited $AEM

Korea Investment CORP lessened its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 51.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 474,758 shares of the mining company’s stock after selling 497,837 shares during the period. Korea Investment CORP’s holdings in Agnico Eagle Mines were worth $80,616,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Abound Wealth Management increased its holdings in Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after acquiring an additional 104 shares during the period. Lodestone Wealth Management LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Jessup Wealth Management Inc bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Caitlin John LLC bought a new stake in Agnico Eagle Mines during the 3rd quarter worth approximately $36,000. Finally, Bangor Savings Bank bought a new position in shares of Agnico Eagle Mines in the 4th quarter worth $37,000. Institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AEM shares. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Scotiabank reaffirmed an “outperform” rating and set a $280.00 target price on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. JPMorgan Chase & Co. increased their price target on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Wall Street Zen cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Stock Up 3.1%

NYSE:AEM opened at $162.70 on Friday. The firm has a market cap of $81.43 billion, a P/E ratio of 15.29, a P/E/G ratio of 3.46 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. Agnico Eagle Mines Limited has a fifty-two week low of $114.60 and a fifty-two week high of $255.24. The firm has a 50-day simple moving average of $190.08 and a two-hundred day simple moving average of $194.36.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. Agnico Eagle Mines’s revenue was up 66.1% compared to the same quarter last year. During the same period last year, the business earned $1.53 EPS. Analysts predict that Agnico Eagle Mines Limited will post 13.2 earnings per share 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.