Allianz SE Increases Holdings in Agnico Eagle Mines Limited $AEM

Allianz SE lifted its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2,580.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 79,591 shares of the mining company’s stock after buying an additional 76,622 shares during the quarter. Allianz SE’s holdings in Agnico Eagle Mines were worth $9,463,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of AEM. TD Asset Management Inc lifted its holdings in Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock worth $978,553,000 after buying an additional 2,709,005 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Agnico Eagle Mines by 57.4% during the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock valued at $254,029,000 after purchasing an additional 854,924 shares in the last quarter. Nuveen LLC bought a new position in shares of Agnico Eagle Mines in the first quarter valued at approximately $85,926,000. Geode Capital Management LLC lifted its holdings in shares of Agnico Eagle Mines by 21.1% in the second quarter. Geode Capital Management LLC now owns 4,136,535 shares of the mining company’s stock valued at $501,717,000 after buying an additional 722,117 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Agnico Eagle Mines by 11.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company’s stock valued at $728,214,000 after purchasing an additional 673,400 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Citigroup increased their price target on Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. CIBC increased their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Bank of America upped their price target on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a research report on Friday, October 24th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM opened at $173.29 on Thursday. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $187.50. The stock has a market capitalization of $87.07 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 0.70 and a beta of 0.45. The business’s fifty day moving average price is $162.78 and its two-hundred day moving average price is $137.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16.

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, beating analysts’ consensus estimates of $1.76 by $0.40. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. During the same period in the previous year, the business earned $1.14 earnings per share. As a group, analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.