19,855 Shares in Agnico Eagle Mines Limited $AEM Acquired by Parvin Asset Management LLC

Parvin Asset Management LLC purchased a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 19,855 shares of the mining company’s stock, valued at approximately $3,080,000. Agnico Eagle Mines comprises 2.4% of Parvin Asset Management LLC’s holdings, making the stock its 3rd biggest holding.

A number of other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Agnico Eagle Mines by 1.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock valued at $893,000 after acquiring an additional 59 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Agnico Eagle Mines by 0.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,284 shares of the mining company’s stock valued at $2,422,000 after purchasing an additional 63 shares during the last quarter. Syon Capital LLC grew its position in shares of Agnico Eagle Mines by 1.8% during the 4th quarter. Syon Capital LLC now owns 3,675 shares of the mining company’s stock worth $623,000 after buying an additional 65 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Agnico Eagle Mines by 1.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company’s stock valued at $728,000 after acquiring an additional 67 shares during the last quarter. Finally, Rossby Financial LCC grew its holdings in Agnico Eagle Mines by 1.1% during the 4th quarter. Rossby Financial LCC now owns 7,061 shares of the mining company’s stock worth $1,197,000 after acquiring an additional 74 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $213.84 on Thursday. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a twelve month low of $134.38 and a twelve month high of $255.24. The stock has a market capitalization of $108.40 billion, a P/E ratio of 18.29, a P/E/G ratio of 2.79 and a beta of 0.60. The company has a 50 day moving average of $163.73 and a 200-day moving average of $187.18.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced 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 business had revenue of $3.77 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.94 earnings per share. As a group, equities research analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AEM shares. Citigroup lowered their price target on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and boosted their target price for the company from $187.00 to $200.00 in a research note on Monday, July 6th. Bank of America cut their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Scotiabank lowered their target price on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. 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. Based on data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.00.

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.