Cvfg LLC Takes Position in Agnico Eagle Mines Limited $AEM

Cvfg LLC acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,808 shares of the mining company’s stock, valued at approximately $2,194,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors boosted its stake in Agnico Eagle Mines by 2.8% during 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. raised its stake in shares of Agnico Eagle Mines by 1.5% in the 4th 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 raised its stake in shares of Agnico Eagle Mines by 21.6% in 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 buying an additional 3,062,705 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Agnico Eagle Mines by 1.7% in the fourth quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock valued at $1,641,239,000 after buying an additional 165,263 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Agnico Eagle Mines by 4.0% during 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 buying an additional 332,797 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Down 3.1%

Shares of AEM opened at $150.21 on Wednesday. The business’s 50-day moving average price is $172.67 and its 200 day moving average price is $193.51. The stock has a market capitalization of $76.24 billion, a P/E ratio of 14.12, a P/E/G ratio of 3.40 and a beta of 0.60. Agnico Eagle Mines Limited has a 1-year low of $115.19 and a 1-year high of $255.24. 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 (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the company earned $1.53 EPS. The business’s revenue for the quarter was up 66.1% compared to the same quarter last year. Analysts expect that Agnico Eagle Mines Limited will post 13.22 earnings per share for the current year.

Wall Street Analyst Weigh In

AEM has been the topic of several research reports. Wall Street Zen upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. TD boosted their target price on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Barclays cut their target price on shares of Agnico Eagle Mines from $213.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Scotia reduced their target price on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a report on Friday, July 3rd. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $236.85.

Agnico Eagle Mines 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.