Legal & General Group Plc Purchases 111,892 Shares of Agnico Eagle Mines Limited $AEM

Legal & General Group Plc lifted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,491,203 shares of the mining company’s stock after purchasing an additional 111,892 shares during the period. Legal & General Group Plc owned about 0.70% of Agnico Eagle Mines worth $592,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Agnico Eagle Mines by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock worth $3,557,772,000 after purchasing an additional 309,717 shares during the last quarter. Capital World Investors lifted its stake in Agnico Eagle Mines by 20.0% in the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after acquiring an additional 3,462,968 shares during the period. TD Asset Management Inc lifted its stake in Agnico Eagle Mines by 1.5% in the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after acquiring an additional 143,645 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Agnico Eagle Mines by 3.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 8,589,745 shares of the mining company’s stock worth $1,447,494,000 after acquiring an additional 292,949 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Agnico Eagle Mines by 0.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,392,420 shares of the mining company’s stock worth $1,076,423,000 after acquiring an additional 44,597 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $175.79 on Tuesday. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $87.98 billion, a P/E ratio of 16.52, a P/E/G ratio of 3.84 and a beta of 0.58. The business has a fifty day simple moving average of $197.11 and a two-hundred day simple moving average of $194.08. Agnico Eagle Mines Limited has a 12 month low of $114.60 and a 12 month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS 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 for the quarter was up 66.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 13.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of research analyst reports. TD raised their price target on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. UBS Group dropped their price target on 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. Barclays initiated coverage on Agnico Eagle Mines in a research note on Thursday. They issued an “overweight” rating and a $213.00 price target for the company. Scotiabank reaffirmed an “outperform” rating and issued a $280.00 price target on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Finally, TD Securities raised their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.