Daiichi Life Insurance Co. Ltd. Buys Shares of 3,700 Agnico Eagle Mines Limited $AEM

Daiichi Life Insurance Co. Ltd. purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, HoldingsChannel reports. The firm purchased 3,700 shares of the mining company’s stock, valued at approximately $574,000.

Several other institutional investors also recently added to or reduced their stakes in the business. K.J. Harrison & Partners Inc acquired a new position in Agnico Eagle Mines during the 2nd quarter valued at $6,923,000. BIP Wealth LLC acquired a new stake in Agnico Eagle Mines in the 2nd quarter worth $1,167,000. Annex Advisory Services LLC grew its position in Agnico Eagle Mines by 70.5% in the 2nd quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company’s stock worth $4,500,000 after purchasing an additional 11,995 shares during the last quarter. RFG Advisory LLC bought a new position in shares of Agnico Eagle Mines during the 4th quarter worth about $1,122,000. Finally, Harvest Portfolios Group Inc. increased its holdings in shares of Agnico Eagle Mines by 45.7% during the 4th quarter. Harvest Portfolios Group Inc. now owns 137,292 shares of the mining company’s stock worth $23,282,000 after purchasing an additional 43,051 shares during the period. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Trading Up 0.8%

Shares of Agnico Eagle Mines stock opened at $217.76 on Tuesday. The firm has a market capitalization of $110.38 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The company’s fifty day moving average price is $161.95 and its two-hundred day moving average price is $186.83. Agnico Eagle Mines Limited has a 52-week low of $134.38 and a 52-week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period last year, the firm earned $1.94 EPS. On average, analysts expect that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Citigroup decreased their target price on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, July 27th. Royal Bank Of Canada lowered their price target on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $226.00.

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.