Danske Bank A S Takes Position in Agnico Eagle Mines Limited $AEM

Key Points

• Danske Bank acquired 4,761 shares of Agnico Eagle Mines in the second quarter, valued at approximately $737,000. Institutional investors and hedge funds collectively own 68.34% of the company.
• Analyst sentiment remains positive but has softened, with 12 Buy ratings, four Holds and one Sell. Agnico Eagle has a “Moderate Buy” consensus rating and an average price target of $226, despite several recent target-price reductions.
• Agnico Eagle reported quarterly EPS of $3.05, beating estimates of $2.89, while revenue rose 35% year over year to $3.77 billion, slightly below expectations.

Danske Bank A S acquired 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 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,761 shares of the mining company's stock, valued at approximately $737,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acumen Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines during the 4th quarter valued at approximately $26,000. Dunhill Financial LLC bought a new position in Agnico Eagle Mines during the 2nd quarter worth approximately $31,000. Jessup Wealth Management Inc acquired a new position in shares of Agnico Eagle Mines in the 4th quarter worth approximately $35,000. University of Texas Texas AM Investment Management Co. lifted its position in shares of Agnico Eagle Mines by 64.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company's stock worth $39,000 after purchasing an additional 90 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Agnico Eagle Mines in the 4th quarter worth approximately $39,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Barclays lowered their target price on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an "overweight" rating for the company in a research note on Wednesday, July 15th. Royal Bank Of Canada dropped their target price on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a "sector perform" rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut shares of Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 2nd. Finally, Scotiabank decreased their price target on Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of "Moderate Buy" and an average target price of $226.00.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $217.02 on Friday. Agnico Eagle Mines Limited has a 52-week low of $133.80 and a 52-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. The business's 50 day moving average price is $161.03 and its two-hundred day moving average price is $186.71. The firm has a market cap of $110.01 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60.

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

Agnico Eagle Mines Company 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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