Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Increases Stake in Agnico Eagle Mines Limited $AEM

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. raised its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 43.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,926 shares of the mining company’s stock after purchasing an additional 6,330 shares during the period. Agnico Eagle Mines comprises about 8.7% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.’s portfolio, making the stock its 2nd largest holding. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.’s holdings in Agnico Eagle Mines were worth $3,526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ameritas Advisory Services LLC acquired a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at about $25,000. True Wealth Design LLC lifted its holdings in Agnico Eagle Mines by 381.3% in the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after acquiring an additional 122 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in Agnico Eagle Mines in the second quarter valued at approximately $29,000. City State Bank grew its holdings in shares of Agnico Eagle Mines by 69.2% during the second quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after purchasing an additional 110 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its holdings in shares of Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AEM has been the topic of several recent research reports. Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Citigroup upped their price target on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Finally, UBS Group upped their target price on shares of Agnico Eagle Mines from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, December 1st. Five investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $211.70.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $214.52 on Friday. The firm has a market capitalization of $107.40 billion, a PE ratio of 31.32, a P/E/G ratio of 0.62 and a beta of 0.63. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $178.06 and a 200 day moving average price of $158.71. Agnico Eagle Mines Limited has a 52-week low of $87.45 and a 52-week high of $215.95.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. During the same period in the previous year, the firm earned $1.14 EPS. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

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.