Generate Investment Management Ltd Makes New $19.28 Million Investment in Agnico Eagle Mines Limited $AEM

Generate Investment Management Ltd acquired a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 95,000 shares of the mining company’s stock, valued at approximately $19,283,000. Agnico Eagle Mines accounts for approximately 0.9% of Generate Investment Management Ltd’s portfolio, making the stock its 26th biggest position.

Several other hedge funds have also modified their holdings of the stock. Capital World Investors raised its position in 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 valued at $3,618,730,000 after purchasing an additional 572,473 shares in the last quarter. Vanguard Group Inc. grew its position in shares of 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 worth $3,557,772,000 after buying an additional 309,717 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Agnico Eagle Mines by 21.6% during the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after buying an additional 3,062,705 shares during the period. TD Asset Management Inc increased its stake in shares of 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 worth $1,641,239,000 after buying an additional 165,263 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Agnico Eagle Mines by 4.0% in the fourth quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company’s stock valued at $1,489,509,000 after acquiring an additional 332,797 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $166.79 on Tuesday. The stock’s 50-day moving average is $185.16 and its two-hundred day moving average is $194.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. 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 $84.66 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 3.66 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 for the quarter, beating the consensus estimate of $3.19 by $0.21. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business’s quarterly revenue was up 66.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.53 EPS. Analysts predict that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on AEM. UBS Group decreased their price target on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. TD increased their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. JPMorgan Chase & Co. lifted their price objective on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.08.

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.