Forsta AP Fonden Purchases 2,500 Shares of Agnico Eagle Mines Limited $AEM

Forsta AP Fonden boosted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 103,600 shares of the mining company’s stock after acquiring an additional 2,500 shares during the period. Forsta AP Fonden’s holdings in Agnico Eagle Mines were worth $12,318,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. bought a new position in Agnico Eagle Mines in the 1st quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC bought a new position in Agnico Eagle Mines in the 1st quarter worth approximately $26,000. City State Bank grew its stake in Agnico Eagle Mines by 69.2% in the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after buying an additional 110 shares in the last quarter. Finally, Dagco Inc. bought a new stake in Agnico Eagle Mines during the 1st quarter valued at $39,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on AEM. TD Securities increased their target price on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. UBS Group raised their target price on Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Sunday. Bank of America increased their price target on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Citigroup raised their price objective on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Agnico Eagle Mines has a consensus rating of “Buy” and an average price target of $184.50.

Agnico Eagle Mines Stock Up 3.2%

Shares of NYSE AEM opened at $173.29 on Thursday. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $162.78 and a 200-day moving average of $137.11. The firm has a market capitalization of $87.07 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 0.70 and a beta of 0.45. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.40. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. During the same period in the previous year, the business posted $1.14 earnings per share. Sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

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.