Employees Provident Fund Board Purchases Shares of 1,079,713 Agnico Eagle Mines Limited $AEM

Employees Provident Fund Board acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,079,713 shares of the mining company’s stock, valued at approximately $183,341,000.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at about $1,367,783,000. Capital World Investors raised its holdings in shares of Agnico Eagle Mines by 20.0% in the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after acquiring an additional 3,462,968 shares during the last quarter. Van ECK Associates Corp lifted its position in Agnico Eagle Mines by 21.6% in the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after acquiring an additional 3,062,705 shares in the last quarter. Alberta Investment Management Corp bought a new position in Agnico Eagle Mines in the 4th quarter valued at about $194,195,000. Finally, Clearbridge Investments LLC lifted its position in Agnico Eagle Mines by 60.5% in the 4th quarter. Clearbridge Investments LLC now owns 2,149,463 shares of the mining company’s stock valued at $364,398,000 after acquiring an additional 810,543 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented 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 report on Tuesday, May 26th. Wall Street Zen lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. 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 report on Tuesday, March 3rd. Finally, Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.08.

Agnico Eagle Mines Stock Down 0.0%

Agnico Eagle Mines stock opened at $166.63 on Friday. Agnico Eagle Mines Limited has a fifty-two week low of $114.60 and a fifty-two week high of $255.24. The stock has a market cap of $84.58 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 3.66 and a beta of 0.56. The firm’s 50-day simple moving average is $186.15 and its 200 day simple moving average is $194.38. 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 (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (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 the consensus estimate of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The firm’s quarterly revenue was up 66.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.53 EPS. Research analysts predict that Agnico Eagle Mines Limited will post 13.2 EPS 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.