Deutsche Bank AG Buys New Position in Agnico Eagle Mines Limited $AEM

Deutsche Bank AG purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,780,754 shares of the mining company’s stock, valued at approximately $1,362,158,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake 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 during the period. AQR Capital Management LLC boosted its stake 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 purchasing an additional 5,293 shares during the period. Sivia Capital Partners LLC boosted its stake 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 purchasing an additional 1,160 shares during the period. Rhumbline Advisers grew its holdings in Agnico Eagle Mines by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after purchasing an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Agnico Eagle Mines by 25.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock valued at $110,000 after purchasing an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $189.12 on Tuesday. The stock has a market capitalization of $95.86 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 2.32 and a beta of 0.61. Agnico Eagle Mines Limited has a one year low of $130.04 and a one year high of $255.24. The company’s 50-day simple moving average is $157.21 and its 200-day simple moving average is $186.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the company earned $1.94 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 35.0% on a year-over-year basis. Equities analysts anticipate that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AEM. Bank of America dropped their price target on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. JPMorgan Chase & Co. lifted their target price on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Weiss Ratings cut Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and increased their price target for the company from $187.00 to $200.00 in a report on Monday, July 6th. Finally, TD upped their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $226.00.

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.