Nykredit A S Buys Shares of 207,092 Agnico Eagle Mines Limited $AEM

Key Points

• Nykredit A/S initiated a position in Agnico Eagle Mines, purchasing 207,092 shares valued at approximately $32.2 million. Institutional investors collectively own 68.34% of the company.
• Analyst sentiment remains broadly positive, with 12 Buy ratings, four Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $226.
• Agnico Eagle reported quarterly EPS of $3.05, beating estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. Shares opened at $207.24 after rising 5.4%.

Nykredit A S bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 207,092 shares of the mining company's stock, valued at approximately $32,165,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Agnico Eagle Mines by 1.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company's stock valued at $893,000 after purchasing an additional 59 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Agnico Eagle Mines by 0.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,284 shares of the mining company's stock valued at $2,422,000 after purchasing an additional 63 shares during the last quarter. Syon Capital LLC boosted its position in Agnico Eagle Mines by 1.8% in the fourth quarter. Syon Capital LLC now owns 3,675 shares of the mining company's stock valued at $623,000 after buying an additional 65 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Agnico Eagle Mines by 1.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company's stock valued at $728,000 after buying an additional 67 shares in the last quarter. Finally, Rossby Financial LCC boosted its position in Agnico Eagle Mines by 1.1% in the fourth quarter. Rossby Financial LCC now owns 7,061 shares of the mining company's stock valued at $1,197,000 after buying an additional 74 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Agnico Eagle Mines from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Weiss Ratings downgraded Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Jefferies Financial Group upgraded Agnico Eagle Mines from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Wall Street Zen cut Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Finally, UBS Group lowered their target price on Agnico Eagle Mines from $210.00 to $170.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of "Moderate Buy" and a consensus price target of $226.00.

Agnico Eagle Mines Trading Up 5.4%

AEM opened at $207.24 on Friday. Agnico Eagle Mines Limited has a fifty-two week low of $134.38 and a fifty-two week high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The firm has a market capitalization of $105.05 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 2.45 and a beta of 0.67. The company's 50 day moving average price is $168.77 and its two-hundred day moving average price is $186.93.

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

About Agnico Eagle Mines

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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