Avanza Fonder AB Buys 7,310 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Avanza Fonder AB increased its stake in Agnico Eagle Mines Limited by 20%, holding 43,833 shares valued at approximately $5.21 million as of its latest SEC filing.
• Various institutional investors, including Brighton Jones LLC and Tidal Investments LLC, have also reported raising their stakes in Agnico Eagle Mines, indicating strong interest in the company.
• Analysts maintain a consensus rating of "Buy" for Agnico Eagle Mines, with several increasing price targets, reflecting positive sentiment about the company's growth prospects.

Avanza Fonder AB increased its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 20.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,833 shares of the mining company's stock after buying an additional 7,310 shares during the quarter. Avanza Fonder AB's holdings in Agnico Eagle Mines were worth $5,213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in 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 valued at $1,457,160,000 after purchasing an additional 499,362 shares during the period. TD Asset Management Inc increased its stake in shares of Agnico Eagle Mines by 42.8% during the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after buying an additional 2,709,005 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Agnico Eagle Mines by 11.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock valued at $728,214,000 after acquiring an additional 673,400 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Agnico Eagle Mines by 57.4% in 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 purchasing an additional 854,924 shares during the period. Finally, Dimensional Fund Advisors LP boosted 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 valued at $214,361,000 after purchasing an additional 189,935 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

AEM traded up $6.91 during trading hours on Friday, hitting $161.29. The company's stock had a trading volume of 9,137,369 shares, compared to its average volume of 3,035,049. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $162.53. 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 business's 50-day moving average price is $136.93 and its 200-day moving average price is $122.02. The stock has a market cap of $81.10 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 1.08 and a beta of 0.44.

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

Wall Street Analyst Weigh In

Several brokerages have commented on AEM. UBS Group raised their price objective on Agnico Eagle Mines from $125.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Bank of America raised their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Finally, National Bankshares reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $141.40.

Agnico Eagle Mines Company 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.