1,011,681 Shares in Agnico Eagle Mines Limited $AEM Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,011,681 shares of the mining company's stock, valued at approximately $156,942,000. Bank of New York Mellon Corp owned 0.20% of Agnico Eagle Mines at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Agnico Eagle Mines by 1.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company's stock worth $893,000 after purchasing an additional 59 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Agnico Eagle Mines by 0.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,284 shares of the mining company's stock valued at $2,422,000 after buying an additional 63 shares during the last quarter. Syon Capital LLC raised its holdings in shares of Agnico Eagle Mines by 1.8% during the fourth quarter. Syon Capital LLC now owns 3,675 shares of the mining company's stock valued at $623,000 after buying an additional 65 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Agnico Eagle Mines by 1.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company's stock worth $728,000 after buying an additional 67 shares during the period. Finally, Rossby Financial LCC boosted its position in shares of Agnico Eagle Mines by 1.1% during the fourth quarter. Rossby Financial LCC now owns 7,061 shares of the mining company's stock worth $1,197,000 after buying an additional 74 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $217.02 on Monday. The firm's 50 day moving average is $161.03 and its 200-day moving average is $186.68. The stock has a market capitalization of $110.01 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.69 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. Agnico Eagle Mines Limited has a 12-month low of $133.80 and a 12-month high of $255.24.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.89 by $0.16. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business's quarterly revenue was up 35.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.94 earnings per share. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

Analyst Ratings Changes

AEM has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce set a $285.00 price target on Agnico Eagle Mines in a research report on Thursday, July 16th. Bank of America lowered their price target on Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Citigroup cut their price objective on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. UBS Group reduced their price objective on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada decreased their target price on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a "sector perform" rating for the company in a research report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $226.00.

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.

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