BlackRock Inc. Boosts Stake in Agnico Eagle Mines Ltd (AEM)

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BlackRock Inc. lifted its stake in Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 17.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,427 shares of the mining company’s stock after acquiring an additional 25,672 shares during the quarter. BlackRock Inc. owned approximately 0.07% of Agnico Eagle Mines worth $7,902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of AEM. Dimensional Fund Advisors LP grew its stake in Agnico Eagle Mines by 13.1% in the first quarter. Dimensional Fund Advisors LP now owns 266,847 shares of the mining company’s stock valued at $11,226,000 after purchasing an additional 30,821 shares during the last quarter. Allianz Asset Management GmbH grew its stake in Agnico Eagle Mines by 71.5% in the first quarter. Allianz Asset Management GmbH now owns 21,547 shares of the mining company’s stock valued at $906,000 after purchasing an additional 8,981 shares during the last quarter. Suntrust Banks Inc. purchased a new position in Agnico Eagle Mines in the first quarter valued at about $340,000. Hexavest Inc. grew its stake in Agnico Eagle Mines by 121.4% in the second quarter. Hexavest Inc. now owns 197,304 shares of the mining company’s stock valued at $9,040,000 after purchasing an additional 108,200 shares during the last quarter. Finally, Addenda Capital Inc. grew its stake in Agnico Eagle Mines by 88.5% in the second quarter. Addenda Capital Inc. now owns 908,104 shares of the mining company’s stock valued at $39,786,000 after purchasing an additional 426,247 shares during the last quarter. 59.68% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE AEM opened at $35.99 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.94 and a quick ratio of 1.88. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 32.42 and a beta of -0.59. Agnico Eagle Mines Ltd has a fifty-two week low of $32.18 and a fifty-two week high of $49.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 24th. The mining company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.06. The business had revenue of $518.68 million during the quarter, compared to the consensus estimate of $497.68 million. Agnico Eagle Mines had a return on equity of 1.75% and a net margin of 4.60%. The company’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. On average, equities analysts anticipate that Agnico Eagle Mines Ltd will post 0.15 earnings per share for the current year.

Several equities analysts have issued reports on AEM shares. TheStreet lowered Agnico Eagle Mines from a “b-” rating to a “c+” rating in a research note on Wednesday, September 5th. TD Securities lifted their target price on Agnico Eagle Mines from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Credit Suisse Group reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Monday, September 10th. Zacks Investment Research upgraded Agnico Eagle Mines from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, Scotiabank set a $56.00 target price on Agnico Eagle Mines and gave the company a “buy” rating in a research note on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $54.25.

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About Agnico Eagle Mines

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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