Avanza Fonder AB Acquires 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 holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 20.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. DAVENPORT & Co LLC purchased a new position in shares of Agnico Eagle Mines during the first quarter valued at $226,000. Bank of New York Mellon Corp grew its holdings in shares of Agnico Eagle Mines by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock valued at $52,613,000 after buying an additional 5,717 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after buying an additional 232 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Agnico Eagle Mines in the first quarter valued at about $34,000. Finally, OneDigital Investment Advisors LLC acquired a new position in Agnico Eagle Mines in the 1st quarter worth about $234,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

AEM has been the topic of several research reports. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Royal Bank Of Canada upped their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Finally, Zacks Research lowered Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Agnico Eagle Mines has an average rating of "Buy" and an average price target of $141.40.

Agnico Eagle Mines Stock Down 0.1%

Shares of AEM traded down $0.14 during trading hours on Monday, hitting $161.05. 4,858,906 shares of the company were exchanged, compared to its average volume of 2,986,972. The company has a market cap of $80.98 billion, a PE ratio of 27.39, a PEG ratio of 1.08 and a beta of 0.44. The firm's 50 day moving average is $136.93 and its 200-day moving average is $122.02. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $164.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.11. The company had revenue of $2.86 billion during 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 firm's revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 EPS. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

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.