Agnico Eagle Mines Limited $AEM is Van ECK Associates Corp’s 5th Largest Position

Van ECK Associates Corp boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 21.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,225,477 shares of the mining company’s stock after acquiring an additional 3,062,705 shares during the quarter. Agnico Eagle Mines comprises approximately 2.4% of Van ECK Associates Corp’s portfolio, making the stock its 5th biggest holding. Van ECK Associates Corp’s holdings in Agnico Eagle Mines were worth $2,920,258,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Abound Wealth Management boosted its position in shares of Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after buying an additional 104 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at $35,000. Jessup Wealth Management Inc acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at $35,000. Caitlin John LLC acquired a new stake in Agnico Eagle Mines in the 3rd quarter worth about $36,000. Finally, Bangor Savings Bank acquired a new stake in Agnico Eagle Mines in the 4th quarter worth about $37,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on AEM. Scotiabank reissued an “outperform” rating and issued a $280.00 price target on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Canadian Imperial Bank of Commerce lifted their price objective on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. TD lifted their price objective on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Wall Street Zen lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $162.70 on Friday. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a twelve month low of $114.60 and a twelve month high of $255.24. The business has a 50 day simple moving average of $190.08 and a 200-day simple moving average of $194.36. The company has a market capitalization of $81.43 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 3.46 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data 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 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 was up 66.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.53 earnings per share. As a group, equities research analysts expect that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current year.

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.