Mn Services Vermogensbeheer B.V. Makes New $10.89 Million Investment in Agnico Eagle Mines Limited $AEM

Key Points

• Mn Services Vermogensbeheer B.V. has acquired a new position in Agnico Eagle Mines Limited, purchasing 91,600 shares valued at approximately $10.89 million in the 2nd quarter.
• Analysts remain bullish on Agnico Eagle Mines, with several institutions adjusting their target prices; Royal Bank of Canada raised the target price from $115 to $145.
• The company reported a revenue increase of 35.6% year-over-year, with earnings of $1.94 per share surpassing analyst expectations of $1.83 in their latest quarterly results.

Mn Services Vermogensbeheer B.V. purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 91,600 shares of the mining company's stock, valued at approximately $10,891,000.

Other hedge funds have also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in Agnico Eagle Mines in the 1st quarter valued at $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in Agnico Eagle Mines in the 1st quarter valued at $26,000. Private Trust Co. NA boosted its holdings in Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after purchasing an additional 232 shares during the period. Golden State Wealth Management LLC bought a new stake in Agnico Eagle Mines in the 1st quarter valued at $34,000. Finally, Dagco Inc. bought a new stake in Agnico Eagle Mines in the 1st quarter valued at $39,000. 68.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Royal Bank Of Canada increased their price objective on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, Bank of America increased their price objective on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Five investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of "Buy" and a consensus target price of $141.40.

Agnico Eagle Mines Trading Down 0.3%

Agnico Eagle Mines stock traded down $0.51 during midday trading on Monday, hitting $160.68. 3,788,985 shares of the stock were exchanged, compared to its average volume of 2,979,169. The company has a fifty day simple moving average of $136.93 and a two-hundred day simple moving average of $122.02. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $164.64. The stock has a market capitalization of $80.79 billion, a PE ratio of 27.38, a P/E/G ratio of 1.08 and a beta of 0.44. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data 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 net margin of 30.63% and a return on equity of 13.79%. 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 firm earned $1.07 EPS. Agnico Eagle Mines's quarterly revenue was up 35.6% compared to the same quarter last year. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines 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.