Mediolanum International Funds Ltd Purchases 141,950 Shares of Agnico Eagle Mines Limited $AEM

Mediolanum International Funds Ltd grew its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 295.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,961 shares of the mining company’s stock after acquiring an additional 141,950 shares during the period. Mediolanum International Funds Ltd’s holdings in Agnico Eagle Mines were worth $22,116,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc increased its position in Agnico Eagle Mines by 10.8% during the second quarter. Legal & General Group Plc now owns 3,140,771 shares of the mining company’s stock worth $373,460,000 after buying an additional 305,061 shares during the last quarter. Swiss National Bank increased its holdings in shares of Agnico Eagle Mines by 7.1% during the 2nd quarter. Swiss National Bank now owns 1,529,258 shares of the mining company’s stock worth $181,497,000 after acquiring an additional 102,000 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Agnico Eagle Mines in the 2nd quarter valued at $1,937,000. Accordant Advisory Group Inc lifted its holdings in Agnico Eagle Mines by 4.1% during the 2nd quarter. Accordant Advisory Group Inc now owns 38,051 shares of the mining company’s stock valued at $4,525,000 after purchasing an additional 1,492 shares during the last quarter. Finally, Saturna Capital Corp boosted its position in Agnico Eagle Mines by 2.6% during the second quarter. Saturna Capital Corp now owns 29,148 shares of the mining company’s stock worth $3,467,000 after purchasing an additional 752 shares during the period. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $158.71 on Friday. The firm’s 50 day simple moving average is $164.39 and its 200 day simple moving average is $139.06. The firm has a market capitalization of $79.61 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 0.70 and a beta of 0.45. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines Limited has a 1 year low of $76.91 and a 1 year high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the business posted $1.14 EPS. As a group, research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on AEM. Bank of America raised their target price on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. UBS Group upped their price objective on Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Finally, CIBC upped their price target on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Five analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.