Canada Pension Plan Investment Board Raises Position in Agnico Eagle Mines Limited (NYSE:AEM)

Canada Pension Plan Investment Board boosted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 14.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,966,837 shares of the mining company’s stock after buying an additional 252,300 shares during the period. Canada Pension Plan Investment Board owned approximately 0.39% of Agnico Eagle Mines worth $128,617,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AEM. Continuum Advisory LLC grew its holdings in shares of Agnico Eagle Mines by 1,134.4% during the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after purchasing an additional 363 shares in the last quarter. Stephens Consulting LLC purchased a new position in Agnico Eagle Mines in the 1st quarter worth approximately $30,000. Janiczek Wealth Management LLC increased its holdings in shares of Agnico Eagle Mines by 406.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after buying an additional 569 shares during the last quarter. WASHINGTON TRUST Co raised its position in shares of Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after buying an additional 350 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth $52,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AEM shares. BMO Capital Markets lowered their price target on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. TD Securities lifted their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, July 12th. StockNews.com raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Finally, Scotiabank boosted their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average target price of $84.67.

Agnico Eagle Mines Trading Up 1.6 %

AEM opened at $83.13 on Friday. Agnico Eagle Mines Limited has a one year low of $43.22 and a one year high of $84.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76. The business has a 50 day simple moving average of $78.01 and a two-hundred day simple moving average of $68.62. The firm has a market capitalization of $41.59 billion, a price-to-earnings ratio of 87.51, a PEG ratio of 0.77 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. Analysts predict that Agnico Eagle Mines Limited will post 3.65 EPS for the current year.

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.