Voya Investment Management LLC Buys 8,515 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Voya Investment Management LLC increased its stake in Agnico Eagle Mines Limited by 100.3%, bringing its holdings to 17,008 shares valued at approximately $1.84 million.
• Multiple institutional investors are accumulating shares in Agnico Eagle Mines, with significant increases from firms like Two Sigma Advisers LP and Tidal Investments LLC during the last quarter.
• Analysts are generally optimistic about Agnico Eagle Mines' performance, with five investment firms rating it as a Strong Buy and a consensus price target of $141.40.

Voya Investment Management LLC lifted its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 100.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,008 shares of the mining company's stock after purchasing an additional 8,515 shares during the period. Voya Investment Management LLC's holdings in Agnico Eagle Mines were worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fruth Investment Management grew its holdings in shares of Agnico Eagle Mines by 10.3% in the first quarter. Fruth Investment Management now owns 6,975 shares of the mining company's stock valued at $756,000 after purchasing an additional 650 shares during the period. Advisors Capital Management LLC raised its holdings in Agnico Eagle Mines by 1.1% in the first quarter. Advisors Capital Management LLC now owns 113,638 shares of the mining company's stock valued at $12,320,000 after acquiring an additional 1,242 shares in the last quarter. McAdam LLC purchased a new position in Agnico Eagle Mines in the first quarter valued at approximately $201,000. Intech Investment Management LLC increased its stake in Agnico Eagle Mines by 144.9% in the first quarter. Intech Investment Management LLC now owns 68,697 shares of the mining company's stock valued at $7,442,000 after purchasing an additional 40,644 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI grew its position in shares of Agnico Eagle Mines by 32.6% during the first quarter. Zurich Insurance Group Ltd FI now owns 509,058 shares of the mining company's stock worth $55,214,000 after acquiring an additional 125,223 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

NYSE AEM traded down $0.14 during trading hours on Monday, hitting $161.05. The company had a trading volume of 4,858,906 shares, compared to its average volume of 3,035,049. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $164.64. The firm has a market cap of $80.98 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 1.08 and a beta of 0.44. The business has a fifty day simple moving average of $137.76 and a 200-day simple moving average of $122.45. 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 results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the prior year, the business posted $1.07 earnings per share. The company's revenue for the quarter was up 35.6% compared to the same quarter last year. Equities analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AEM shares. Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective on the stock in a research report on Monday, June 30th. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. UBS Group boosted their target price on Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Zacks Research cut Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $141.40.

About Agnico Eagle Mines

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.