Agnico Eagle Mines Limited $AEM Position Increased by Candriam S.C.A.

Candriam S.C.A. raised its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 71.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 19,956 shares of the mining company’s stock after buying an additional 8,348 shares during the period. Candriam S.C.A.’s holdings in Agnico Eagle Mines were worth $2,162,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Credit Agricole S A lifted its position in shares of Agnico Eagle Mines by 112.9% in the 1st quarter. Credit Agricole S A now owns 71,797 shares of the mining company’s stock valued at $7,784,000 after acquiring an additional 38,070 shares in the last quarter. Groupama Asset Managment lifted its holdings in shares of Agnico Eagle Mines by 23.6% in the first quarter. Groupama Asset Managment now owns 1,278,820 shares of the mining company’s stock valued at $137,294,000 after purchasing an additional 244,039 shares in the last quarter. Muhlenkamp & Co. Inc. lifted its holdings in shares of Agnico Eagle Mines by 0.5% in the first quarter. Muhlenkamp & Co. Inc. now owns 151,252 shares of the mining company’s stock valued at $16,397,000 after purchasing an additional 720 shares in the last quarter. Qtron Investments LLC lifted its holdings in shares of Agnico Eagle Mines by 9.0% in the first quarter. Qtron Investments LLC now owns 15,039 shares of the mining company’s stock valued at $1,629,000 after purchasing an additional 1,237 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Agnico Eagle Mines by 8.7% in the first quarter. Northern Trust Corp now owns 456,247 shares of the mining company’s stock valued at $49,462,000 after purchasing an additional 36,420 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AEM shares. Raymond James Financial raised 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. National Bankshares reissued an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Bank of America increased their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Royal Bank Of Canada increased their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Finally, TD Securities upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Thursday, July 17th. Five analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $136.90.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $137.0970 on Friday. The firm has a market cap of $68.94 billion, a PE ratio of 23.32, a PEG ratio of 0.95 and a beta of 0.44. The firm’s 50 day moving average price is $125.39 and its 200 day moving average price is $114.70. 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 Limited has a twelve month low of $75.17 and a twelve month high of $138.02.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The company’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 earnings per share. As a group, research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal 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.