EFG International AG Invests $1.18 Million in Agnico Eagle Mines Limited $AEM

Key Points

• EFG International AG purchased 7,591 Agnico Eagle Mines shares during the second quarter, valued at approximately $1.18 million. Institutional investors and hedge funds collectively own 68.34% of the company.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” from 17 analysts and an average price target of $226, despite some recent target-price reductions.
• Agnico Eagle reported quarterly earnings of $3.05 per share, beating estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. The stock opened at $213.84 and remains below its 52-week high of $255.24.

EFG International AG purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,591 shares of the mining company's stock, valued at approximately $1,178,000.

Other large investors have also recently bought and sold shares of the company. Capital World Investors lifted its stake in shares of Agnico Eagle Mines by 2.8% in the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company's stock worth $3,618,730,000 after acquiring an additional 572,473 shares during the period. Vanguard Group Inc. increased its stake in shares of Agnico Eagle Mines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company's stock valued at $3,557,772,000 after acquiring an additional 309,717 shares during the period. Van ECK Associates Corp raised its holdings in Agnico Eagle Mines by 21.6% during the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company's stock worth $2,920,258,000 after purchasing an additional 3,062,705 shares in the last quarter. TD Asset Management Inc raised its holdings in Agnico Eagle Mines by 1.7% during the fourth quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company's stock worth $1,641,239,000 after purchasing an additional 165,263 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in Agnico Eagle Mines in the second quarter worth approximately $1,362,158,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Analyst Upgrades and Downgrades

AEM has been the subject of several research analyst reports. Weiss Ratings lowered Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Canadian Imperial Bank of Commerce set a $285.00 target price on Agnico Eagle Mines in a report on Thursday, July 16th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a report on Monday, May 4th. Scotiabank lowered their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, July 14th. Finally, 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. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $226.00.

Agnico Eagle Mines Trading Down 4.6%

Agnico Eagle Mines stock opened at $213.84 on Thursday. The firm has a market capitalization of $108.40 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.79 and a beta of 0.60. The company has a 50 day moving average price of $163.73 and a 200 day moving average price of $187.18. 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 Limited has a 52 week low of $134.38 and a 52 week high of $255.24.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the company posted $1.94 earnings per share. Agnico Eagle Mines's revenue for the quarter was up 35.0% compared to the same quarter last year. Research analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS 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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