Zurich Insurance Group Ltd FI Has $55.21 Million Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Zurich Insurance Group Ltd FI increased its stake in Agnico Eagle Mines Limited by 32.6% during the first quarter, acquiring an additional 125,223 shares.
• Agnico Eagle Mines reported a 35.6% year-over-year revenue increase, reaching $2.86 billion in the last quarter and exceeding analysts' expectations.
• The stock currently has a consensus rating of "Buy" from analysts, with a price target of approximately $136.90 per share.

Zurich Insurance Group Ltd FI increased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 32.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 509,058 shares of the mining company's stock after buying an additional 125,223 shares during the quarter. Zurich Insurance Group Ltd FI owned 0.10% of Agnico Eagle Mines worth $55,214,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AEM. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Agnico Eagle Mines by 1.5% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock worth $618,000 after purchasing an additional 85 shares during the last quarter. Hexagon Capital Partners LLC raised its position in Agnico Eagle Mines by 31.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock worth $40,000 after purchasing an additional 87 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in Agnico Eagle Mines by 1.8% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company's stock worth $543,000 after purchasing an additional 120 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Agnico Eagle Mines by 19.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company's stock worth $84,000 after purchasing an additional 125 shares during the last quarter. Finally, Continuum Advisory LLC raised its position in Agnico Eagle Mines by 47.0% in the 1st quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock worth $43,000 after purchasing an additional 127 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 0.2%

Shares of AEM traded down $0.38 during trading hours on Friday, reaching $153.35. The stock had a trading volume of 2,278,506 shares, compared to its average volume of 2,474,095. 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 Limited has a 52 week low of $75.17 and a 52 week high of $156.18. The firm has a 50-day moving average of $133.30 and a 200 day moving average of $119.82. The company has a market cap of $77.11 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.06 and a beta of 0.45.

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 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the prior year, the company earned $1.07 EPS. The firm's quarterly revenue was up 35.6% on a year-over-year basis. On average, sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

AEM has been the subject of several research analyst reports. Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective for the company in a research report on Monday, June 30th. CIBC reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Bank of America upped their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Finally, National Bankshares reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Five analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $136.90.

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.