Norges Bank Purchases New Shares in Agnico Eagle Mines Limited $AEM

Norges Bank purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,065,618 shares of the mining company’s stock, valued at approximately $1,367,783,000. Norges Bank owned approximately 1.61% of Agnico Eagle Mines at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AEM. Brighton Jones LLC lifted its position in shares of Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after purchasing an additional 331 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Agnico Eagle Mines by 36.4% in the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after acquiring an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Agnico Eagle Mines by 57.2% in the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after acquiring an additional 1,160 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Agnico Eagle Mines by 8.0% in the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after acquiring an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Agnico Eagle Mines by 25.2% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after acquiring an additional 187 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. Scotiabank reaffirmed an “outperform” rating and issued a $280.00 target price on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Finally, ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $183.56 on Friday. The stock has a fifty day simple moving average of $195.01 and a two-hundred day simple moving average of $194.38. Agnico Eagle Mines Limited has a 1-year low of $114.60 and a 1-year high of $255.24. The firm has a market cap of $91.87 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 3.99 and a beta of 0.58. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the company earned $1.53 earnings per share. Agnico Eagle Mines’s revenue was up 66.1% compared to the same quarter last year. Analysts anticipate that Agnico Eagle Mines Limited will post 13.14 earnings per share for the current year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.