E Fund Management Co. Ltd. Purchases New Shares in Agnico Eagle Mines Limited $AEM

E Fund Management Co. Ltd. acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,083 shares of the mining company’s stock, valued at approximately $2,340,000.

A number of other large investors have also recently made changes to their positions in the business. Deutsche Bank AG bought a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at about $1,362,158,000. Norges Bank bought a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $1,367,783,000. Van ECK Associates Corp boosted its holdings 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 purchasing an additional 3,062,705 shares during the period. Alberta Investment Management Corp bought a new position in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $194,195,000. Finally, Employees Provident Fund Board purchased a new stake in Agnico Eagle Mines during the 4th quarter valued at $183,341,000. 68.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented 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. UBS Group dropped their target price on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Zacks Research downgraded Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Citigroup dropped their price objective on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. increased their target price on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.00.

Agnico Eagle Mines Trading Up 11.3%

NYSE:AEM opened at $208.04 on Thursday. The stock has a market capitalization of $105.45 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 2.32 and a beta of 0.60. Agnico Eagle Mines Limited has a 52 week low of $131.16 and a 52 week 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. The firm has a 50 day moving average of $158.87 and a 200 day moving average of $186.35.

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, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the firm posted $1.94 EPS. Agnico Eagle Mines’s revenue was up 35.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 11.56 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.