Public Employees Retirement System of Ohio Has $85.02 Million Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Agnico Eagle Mines Limited by 40% in the second quarter, now owning about $85 million worth of shares.
• Wall Street analysts have a consensus "Buy" rating for Agnico Eagle Mines, with a target price of $141.40, following positive earnings reports surpassing expectations.
• The company reported a 35.6% year-over-year revenue increase, reaching $2.86 billion in the last quarter, alongside an EPS of $1.94 which exceeded estimates.

Public Employees Retirement System of Ohio lifted its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 40.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 714,952 shares of the mining company's stock after buying an additional 204,099 shares during the period. Public Employees Retirement System of Ohio owned about 0.14% of Agnico Eagle Mines worth $85,024,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AEM. DAVENPORT & Co LLC acquired a new stake in shares of Agnico Eagle Mines during the first quarter worth approximately $226,000. Bank of New York Mellon Corp raised its holdings in shares of Agnico Eagle Mines by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock worth $52,613,000 after acquiring an additional 5,717 shares in the last quarter. Private Trust Co. NA boosted its position in Agnico Eagle Mines by 454.9% during the first 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 last quarter. Golden State Wealth Management LLC purchased a new position in Agnico Eagle Mines in the first quarter valued at about $34,000. Finally, OneDigital Investment Advisors LLC acquired a new position in Agnico Eagle Mines in the 1st quarter worth about $234,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEM. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Zacks Research lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective for the company in a research note on Monday, June 30th. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Five equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $141.40.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $162.34 on Wednesday. The stock has a 50-day simple moving average of $138.63 and a 200 day simple moving average of $122.73. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $164.64. The stock has a market capitalization of $81.63 billion, a PE ratio of 27.61, a P/E/G ratio of 1.08 and a beta of 0.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company's revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 EPS. Research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current 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.

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