341,617 Shares in Agnico Eagle Mines Limited $AEM Acquired by TB Alternative Assets Ltd.

Key Points

• TB Alternative Assets Ltd. acquired 341,617 shares of Agnico Eagle Mines Limited, valued at approximately $40.6 million, making it the company's 6th largest holding.
• Agnico Eagle Mines reported a quarterly EPS of $1.94, surpassing analysts' expectations of $1.83, and a revenue of $2.86 billion, a 35.6% increase from the previous year.
• The company has a current consensus rating of “Buy” from research analysts, with a price target of $141.40, driven by positive upgrades from several institutions.

TB Alternative Assets Ltd. bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 341,617 shares of the mining company's stock, valued at approximately $40,629,000. Agnico Eagle Mines makes up 7.5% of TB Alternative Assets Ltd.'s investment portfolio, making the stock its 6th biggest holding. TB Alternative Assets Ltd. owned 0.07% of Agnico Eagle Mines as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in shares of Agnico Eagle Mines by 3.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock worth $1,457,160,000 after acquiring an additional 499,362 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock worth $978,553,000 after acquiring an additional 2,709,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Agnico Eagle Mines by 11.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock worth $728,214,000 after acquiring an additional 673,400 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Agnico Eagle Mines by 57.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock worth $254,029,000 after acquiring an additional 854,924 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Agnico Eagle Mines by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,395 shares of the mining company's stock worth $214,361,000 after acquiring an additional 189,935 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $158.10 on Thursday. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $164.64. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $139.40 and a 200 day simple moving average of $122.97. The stock has a market capitalization of $79.49 billion, a PE ratio of 26.89, a P/E/G ratio of 1.09 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The firm had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same period in the previous year, the business posted $1.07 earnings per share. The company's revenue for the quarter was up 35.6% compared to the same quarter last year. On average, research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AEM shares. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Zacks Research cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Finally, Royal Bank Of Canada raised their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Five research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $141.40.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.

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