Axa S.A. Grows Stock Position in Agnico Eagle Mines Limited $AEM

Axa S.A. boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 436,340 shares of the mining company’s stock after acquiring an additional 9,440 shares during the period. Axa S.A. owned 0.09% of Agnico Eagle Mines worth $51,894,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at $938,644,000. Arrowstreet Capital Limited Partnership increased its position in shares of Agnico Eagle Mines by 38.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock worth $987,398,000 after purchasing an additional 2,319,131 shares during the last quarter. Invesco Ltd. raised its holdings in Agnico Eagle Mines by 53.1% in the 2nd quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock valued at $495,230,000 after buying an additional 1,444,746 shares during the period. Picton Mahoney Asset Management acquired a new position in Agnico Eagle Mines in the second quarter valued at about $134,059,000. Finally, Canada Pension Plan Investment Board boosted its stake in 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 worth $254,029,000 after buying an additional 854,924 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 0.9%

AEM opened at $166.23 on Wednesday. The business has a fifty day moving average price of $166.89 and a 200 day moving average price of $144.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. Agnico Eagle Mines Limited has a 12 month low of $76.91 and a 12 month high of $187.50. The stock has a market capitalization of $83.38 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 0.60 and a beta of 0.64.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the business posted $1.14 EPS. Sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on AEM. Bank of America boosted their price target on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. CIBC lifted their target price on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. UBS Group upped their price target on Agnico Eagle Mines from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, December 1st. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Agnico Eagle Mines in a research note on Monday. Finally, Zacks Research upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 4th. Six analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Buy” and a consensus price target of $195.60.

About Agnico Eagle Mines

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.