NFJ Investment Group LLC Invests $1.96 Million in Agnico Eagle Mines Limited $AEM

NFJ Investment Group LLC acquired a new stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,891 shares of the mining company’s stock, valued at approximately $1,958,000.

A number of other institutional investors have also modified their holdings of the company. Acumen Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $26,000. Dunhill Financial LLC acquired a new position in Agnico Eagle Mines during the second quarter valued at approximately $31,000. Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $35,000. Allied Private Wealth LLC purchased a new stake in Agnico Eagle Mines during the second quarter worth approximately $36,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Agnico Eagle Mines during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 2.3%

Shares of NYSE:AEM opened at $217.02 on Friday. The company has a market capitalization of $110.01 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60. The company has a 50 day moving average of $161.03 and a two-hundred day moving average of $186.71. Agnico Eagle Mines Limited has a 52-week low of $133.80 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.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results 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 analysts’ expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 earnings per share. As a group, analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on AEM. Zacks Research lowered shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and upped their price target for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Canadian Imperial Bank of Commerce set a $285.00 price objective on Agnico Eagle Mines in a research report on Thursday, July 16th. Finally, Barclays reduced their price objective on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.