Mediolanum International Funds Ltd Buys 13,702 Shares of Agnico Eagle Mines Limited $AEM

Mediolanum International Funds Ltd raised its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 196,957 shares of the mining company’s stock after buying an additional 13,702 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Agnico Eagle Mines were worth $37,759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AEM. Acumen Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter worth about $26,000. Abound Wealth Management grew its stake in Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after acquiring an additional 104 shares in the last quarter. Lodestone Wealth Management LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Jessup Wealth Management Inc bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Finally, Bangor Savings Bank purchased a new stake in Agnico Eagle Mines in the 4th quarter worth approximately $37,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Down 0.3%

Shares of Agnico Eagle Mines stock opened at $136.89 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. Agnico Eagle Mines Limited has a 1 year low of $117.65 and a 1 year high of $255.24. The firm has a market cap of $69.48 billion, a PE ratio of 12.87, a PEG ratio of 1.81 and a beta of 0.60. The company has a 50 day simple moving average of $165.41 and a two-hundred day simple moving average of $191.42.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The business’s revenue for the quarter was up 66.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.53 EPS. Analysts expect that Agnico Eagle Mines Limited will post 12.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup reissued a “positive” rating on shares of Agnico Eagle Mines in a report on Wednesday. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Scotia dropped their price objective on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research note on Friday, July 3rd. Canadian Imperial Bank of Commerce set a $285.00 target price on Agnico Eagle Mines in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $233.62.

Agnico Eagle Mines Profile

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.