Agnico Eagle Mines Limited $AEM Shares Bought by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec has increased its stake in Agnico Eagle Mines Limited to $78.38 million, owning a total of 724,745 shares.
• Several analysts have recently upgraded their price targets for Agnico Eagle Mines, with Royal Bank of Canada raising it from $115 to $145 and Bank of America adjusting theirs to $173.
• Agnico Eagle Mines reported strong quarterly earnings with an EPS of $1.94, surpassing estimates and showing a 35.6% increase in revenue year-over-year.

Federation des caisses Desjardins du Quebec increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 0.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 724,745 shares of the mining company's stock after purchasing an additional 6,048 shares during the quarter. Federation des caisses Desjardins du Quebec owned 0.14% of Agnico Eagle Mines worth $78,379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AEM. TD Asset Management Inc boosted its holdings in Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after acquiring an additional 2,709,005 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Agnico Eagle Mines by 57.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock valued at $254,029,000 after acquiring an additional 854,924 shares during the period. Nuveen LLC purchased a new position in Agnico Eagle Mines during the 1st quarter valued at about $85,926,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Agnico Eagle Mines by 11.1% during the 1st 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 during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Agnico Eagle Mines during the 4th quarter valued at about $46,799,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Bank of America raised their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a report on Monday, June 23rd. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Zacks Research lowered Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada increased their price target on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Five analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines Stock Up 2.4%

Shares of NYSE AEM traded up $3.54 during midday trading on Friday, hitting $151.93. 3,101,573 shares of the company's stock were exchanged, compared to its average volume of 2,331,528. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $152.75. The company has a market cap of $76.39 billion, a PE ratio of 25.84, a P/E/G ratio of 1.02 and a beta of 0.45. The firm's fifty day simple moving average is $129.88 and its 200-day simple moving average is $117.73.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the company earned $1.07 EPS. The business's quarterly revenue was up 35.6% on a year-over-year basis. Research analysts predict 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.