Royal London Asset Management Ltd. Increases Stake in Agnico Eagle Mines Limited $AEM

Royal London Asset Management Ltd. boosted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 689,171 shares of the mining company’s stock after purchasing an additional 22,283 shares during the period. Royal London Asset Management Ltd.’s holdings in Agnico Eagle Mines were worth $116,835,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Capital World Investors raised its position in shares of Agnico Eagle Mines by 2.8% in the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock worth $3,618,730,000 after buying an additional 572,473 shares during the period. Vanguard Group Inc. grew its position in Agnico Eagle Mines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock valued at $3,557,772,000 after acquiring an additional 309,717 shares during the period. TD Asset Management Inc grew its position in Agnico Eagle Mines by 1.7% during the fourth quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock valued at $1,641,239,000 after acquiring an additional 165,263 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Agnico Eagle Mines by 3.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,589,745 shares of the mining company’s stock worth $1,447,494,000 after purchasing an additional 292,949 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Agnico Eagle Mines by 4.2% in the 4th quarter. Deutsche Bank AG now owns 8,570,961 shares of the mining company’s stock worth $1,453,035,000 after purchasing an additional 345,362 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 3.1%

Shares of AEM opened at $162.70 on Friday. Agnico Eagle Mines Limited has a 12 month low of $114.60 and a 12 month high of $255.24. The stock’s 50-day moving average is $190.08 and its two-hundred day moving average is $194.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The stock has a market cap of $81.43 billion, a PE ratio of 15.29, a P/E/G ratio of 3.46 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company’s revenue for the quarter was up 66.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 earnings per share. Equities analysts forecast that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AEM. UBS Group reduced their price objective on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. Scotiabank reissued an “outperform” rating and set a $280.00 target price on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. JPMorgan Chase & Co. raised their price target on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Wall Street Zen cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Erste Group Bank lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average target price of $236.08.

Agnico Eagle Mines Company 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.