Public Employees Retirement System of Ohio Takes $66.19 Million Position in Agnico Eagle Mines Limited $AEM

Key Points

• Public Employees Retirement System of Ohio bought 426,342 shares of Agnico Eagle Mines worth approximately $66.19 million, giving it about a 0.08% stake. Institutional investors collectively own 68.34% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy, four Hold and one Sell rating; MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $226.
• Agnico Eagle reported quarterly EPS of $3.05, beating the $2.89 consensus estimate, while revenue rose 35% year over year to $3.77 billion. The stock opened at $215.35 and has traded between $134.38 and $255.24 over the past year.

Public Employees Retirement System of Ohio purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 426,342 shares of the mining company's stock, valued at approximately $66,186,000. Public Employees Retirement System of Ohio owned approximately 0.08% of Agnico Eagle Mines as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research firms have issued reports on AEM. JPMorgan Chase & Co. upped their price target on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a report on Monday, May 4th. Royal Bank Of Canada decreased their price target on Agnico Eagle Mines from $230.00 to $210.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 9th. Weiss Ratings lowered Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 2nd. Finally, Citigroup cut their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, July 27th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $226.00.

Agnico Eagle Mines Price Performance

AEM stock opened at $215.35 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. Agnico Eagle Mines Limited has a 1 year low of $134.38 and a 1 year high of $255.24. The firm has a 50-day moving average of $164.70 and a 200 day moving average of $187.31. The company has a market cap of $109.16 billion, a P/E ratio of 18.42, a PEG ratio of 2.66 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the business earned $1.94 EPS. The business's revenue for the quarter was up 35.0% on a year-over-year basis. On average, sell-side analysts forecast 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.

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