Danica Pension Livsforsikringsaktieselskab Purchases Shares of 77,686 Agnico Eagle Mines Limited $AEM

Key Points

• Danica Pension acquired 77,686 shares of Agnico Eagle Mines in the second quarter, valued at approximately $17.1 million. Institutional investors collectively own 68.34% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy ratings, four Holds and one Sell; the consensus rating is “Moderate Buy” with a $226 target price.
• Agnico Eagle reported quarterly EPS of $3.05, beating estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. Shares recently opened at $186.79.

Danica Pension Livsforsikringsaktieselskab purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 77,686 shares of the mining company's stock, valued at approximately $17,119,000.

A number of other large investors have also modified their holdings of AEM. K.J. Harrison & Partners Inc acquired a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at $6,923,000. Annex Advisory Services LLC raised its stake in Agnico Eagle Mines by 70.5% in the 2nd quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company's stock worth $4,500,000 after acquiring an additional 11,995 shares during the last quarter. BIP Wealth LLC acquired a new stake in Agnico Eagle Mines during the 2nd quarter worth about $1,167,000. RFG Advisory LLC acquired a new stake in Agnico Eagle Mines during the 4th quarter worth about $1,122,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab grew its stake in Agnico Eagle Mines by 12.0% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company's stock valued at $16,046,000 after purchasing an additional 11,100 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

AEM has been the topic of a number of research reports. Wall Street Zen lowered Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Royal Bank Of Canada decreased their target price on Agnico Eagle Mines from $230.00 to $210.00 and set a "sector perform" rating for the company in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce set a $285.00 target price on Agnico Eagle Mines in a research report on Thursday, July 16th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Finally, ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $226.00.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $186.79 on Wednesday. The business's 50-day moving average is $157.75 and its two-hundred day moving average is $186.40. The company has a market capitalization of $94.68 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.32 and a beta of 0.61. Agnico Eagle Mines Limited has a fifty-two week low of $130.04 and a fifty-two week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86.

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

Agnico Eagle Mines Profile

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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