Caisse de depot et placement du Quebec Acquires Shares of 560,311 Agnico Eagle Mines Limited $AEM

Caisse de depot et placement du Quebec purchased a new position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 560,311 shares of the mining company’s stock, valued at approximately $87,027,000. Caisse de depot et placement du Quebec owned approximately 0.11% of Agnico Eagle Mines as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acumen Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $26,000. Dunhill Financial LLC acquired a new position in shares of Agnico Eagle Mines in the second quarter worth approximately $31,000. Fiduciary Financial Advisors bought a new stake in Agnico Eagle Mines in the second quarter valued at approximately $32,000. Jessup Wealth Management Inc bought a new position in Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Finally, University of Texas Texas AM Investment Management Co. boosted its stake in shares of Agnico Eagle Mines by 64.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company’s stock valued at $39,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AEM shares. Scotiabank dropped their target price on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Canadian Imperial Bank of Commerce set a $285.00 price target on Agnico Eagle Mines in a research note on Thursday, July 16th. Bank of America cut their target price on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Zacks Research downgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Stock Up 0.6%

AEM stock opened at $215.35 on Friday. The firm has a market capitalization of $109.16 billion, a PE ratio of 18.42, a P/E/G ratio of 2.66 and a beta of 0.60. The stock’s 50 day moving average is $164.70 and its 200-day moving average is $187.31. Agnico Eagle Mines Limited has a twelve month low of $134.38 and a twelve month high of $255.24. 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 (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the firm earned $1.94 EPS. The business’s revenue for the quarter was up 35.0% compared to the same quarter last year. Sell-side analysts expect that Agnico Eagle Mines Limited will post 11.56 EPS for the current fiscal year.

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.