426,342 Shares in Agnico Eagle Mines Limited $AEM Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 426,342 shares of the mining company’s stock, valued at approximately $66,186,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Acumen Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines during the 4th quarter valued at about $26,000. Dunhill Financial LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth $31,000. Fiduciary Financial Advisors bought a new position in shares of Agnico Eagle Mines during the second quarter valued at $32,000. Jessup Wealth Management Inc purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at $35,000. Finally, University of Texas Texas AM Investment Management Co. grew its stake in shares of Agnico Eagle Mines by 64.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company’s stock worth $39,000 after acquiring an additional 90 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of research analyst reports. Citigroup cut their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Zacks Research lowered Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Royal Bank Of Canada lowered their target price on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Scotiabank dropped their target price on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Finally, Scotia cut their price target on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research note on Friday, July 3rd. 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 company. Based on data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Trading Up 0.6%

Shares of AEM stock opened at $215.35 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The stock has a fifty day simple moving average of $164.70 and a two-hundred day simple moving average of $187.31. The firm has a market capitalization of $109.16 billion, a PE ratio of 18.42, a PEG ratio of 2.66 and a beta of 0.60. Agnico Eagle Mines Limited has a 52-week low of $134.38 and a 52-week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the company posted $1.94 earnings per share. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. On average, analysts predict 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.