Nvwm LLC Purchases New Shares in Agnico Eagle Mines Limited $AEM

Nvwm LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the third quarter, HoldingsChannel reports. The fund acquired 8,429 shares of the mining company’s stock, valued at approximately $1,421,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AEM. Norges Bank acquired a new position in shares of Agnico Eagle Mines in the second quarter valued at about $938,644,000. Arrowstreet Capital Limited Partnership boosted its holdings in Agnico Eagle Mines by 38.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after purchasing an additional 2,319,131 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Agnico Eagle Mines by 48.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock valued at $538,506,000 after purchasing an additional 1,474,385 shares during the period. Invesco Ltd. grew its position in shares of Agnico Eagle Mines by 53.1% during the 2nd quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock worth $495,230,000 after purchasing an additional 1,444,746 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Agnico Eagle Mines during the second quarter worth approximately $134,059,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $183.32 on Friday. The business has a 50 day moving average of $167.56 and a 200-day moving average of $149.14. The company has a market capitalization of $91.98 billion, a P/E ratio of 26.76, a P/E/G ratio of 0.66 and a beta of 0.64. Agnico Eagle Mines Limited has a 1 year low of $76.91 and a 1 year high of $187.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the company earned $1.14 earnings per share. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on AEM. CIBC lifted their price target on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Raymond James Financial lifted their price objective on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Citigroup increased their target price on Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Finally, Bank of America increased their price objective on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Six research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $201.60.

About Agnico Eagle Mines

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.