OMERS ADMINISTRATION Corp Makes New $40.94 Million Investment in Agnico Eagle Mines Limited $AEM

OMERS ADMINISTRATION Corp bought a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 263,582 shares of the mining company’s stock, valued at approximately $40,940,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors boosted its stake in shares of Agnico Eagle Mines by 2.8% in the fourth quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock valued at $3,618,730,000 after buying an additional 572,473 shares during the period. Vanguard Group Inc. increased its stake in Agnico Eagle Mines by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock worth $3,557,772,000 after acquiring an additional 309,717 shares during the period. Van ECK Associates Corp increased its stake in Agnico Eagle Mines by 21.6% during the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after acquiring an additional 3,062,705 shares during the period. TD Asset Management Inc raised its holdings in Agnico Eagle Mines by 1.7% in the 4th 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 in the last quarter. Finally, Deutsche Bank AG acquired a new position in Agnico Eagle Mines in the 2nd quarter valued at $1,362,158,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. raised their price target 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. Barclays dropped their price target on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Royal Bank Of Canada cut their price objective on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a research report on Thursday, July 9th. Finally, Scotia reduced their price objective on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 3rd. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.00.

Agnico Eagle Mines Stock Up 0.4%

NYSE AEM opened at $217.02 on Monday. The business has a fifty day moving average price of $161.03 and a two-hundred day moving average price of $186.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. Agnico Eagle Mines Limited has a fifty-two week low of $133.80 and a fifty-two week high of $255.24. The stock has a market capitalization of $110.01 billion, a PE ratio of 18.56, a PEG ratio of 2.69 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) 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 company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the company posted $1.94 EPS. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. Equities analysts expect that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal 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.