Groupe la Francaise Boosts Stock Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Groupe la Francaise increased its Agnico Eagle Mines position by 11.4% in the second quarter, adding 29,831 shares and bringing its holdings to 291,666 shares valued at approximately $45.3 million.
• Analysts maintain a generally positive view of AEM, with 12 Buy, four Hold, and one Sell ratings; the stock has a consensus “Moderate Buy” rating and an average price target of $226.
• Agnico Eagle reported quarterly EPS of $3.05, exceeding estimates of $2.89, while revenue reached $3.77 billion and increased 35% year over year.

Groupe la Francaise grew its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 11.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 291,666 shares of the mining company's stock after acquiring an additional 29,831 shares during the quarter. Groupe la Francaise owned about 0.06% of Agnico Eagle Mines worth $45,336,000 as of its most recent SEC filing.

A number of other institutional investors have 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 worth $26,000. Markowski Investments purchased a new position in shares of Agnico Eagle Mines in the second quarter worth about $29,000. Dunhill Financial LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter worth about $31,000. Fiduciary Financial Advisors acquired a new position in Agnico Eagle Mines during the second quarter worth about $32,000. Finally, Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines during the fourth quarter worth about $35,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on AEM shares. JPMorgan Chase & Co. increased their price objective on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Scotiabank lowered their target price on Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Citigroup dropped their price target on Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, July 27th. Barclays reduced their price objective on Agnico Eagle Mines from $210.00 to $188.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 15th. Finally, Scotia dropped their target price on Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating for the company in a report on Friday, July 3rd. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $226.00.

Agnico Eagle Mines Stock Up 0.0%

Shares of NYSE AEM opened at $204.75 on Monday. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $169.72 and its two-hundred day moving average is $186.84. Agnico Eagle Mines Limited has a 52-week low of $134.38 and a 52-week high of $255.24. The firm has a market cap of $103.79 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 2.55 and a beta of 0.67.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping 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 analyst estimates of $3.78 billion. During the same period last year, the business posted $1.94 earnings per share. The company's quarterly revenue was up 35.0% on a year-over-year basis. Research analysts predict 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.

Want to see what other hedge funds are holding AEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.