Agnico Eagle Mines Ltd (AEM) Position Increased by Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp

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Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 13.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 430,100 shares of the mining company’s stock after buying an additional 51,100 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Agnico Eagle Mines were worth $18,976,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in AEM. Capital World Investors acquired a new position in Agnico Eagle Mines during the 3rd quarter valued at $171,117,000. JPMorgan Chase & Co. raised its stake in Agnico Eagle Mines by 278.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,668,472 shares of the mining company’s stock valued at $125,461,000 after purchasing an additional 2,699,518 shares during the last quarter. Findlay Park Partners LLP acquired a new position in Agnico Eagle Mines during the 3rd quarter valued at $87,056,000. CIBC Asset Management Inc raised its stake in Agnico Eagle Mines by 18.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,187,783 shares of the mining company’s stock valued at $74,671,000 after purchasing an additional 344,435 shares during the last quarter. Finally, Capital Management Corp VA acquired a new position in Agnico Eagle Mines during the 3rd quarter valued at $11,011,000. Hedge funds and other institutional investors own 60.17% of the company’s stock.

AEM opened at $40.32 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.88 and a current ratio of 2.94. Agnico Eagle Mines Ltd has a twelve month low of $32.18 and a twelve month high of $49.80. The stock has a market capitalization of $9.25 billion, a PE ratio of 103.76 and a beta of -0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, October 24th. The mining company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. Agnico Eagle Mines had a net margin of 4.60% and a return on equity of 1.75%. The business had revenue of $518.68 million for the quarter, compared to analyst estimates of $497.68 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. Analysts expect that Agnico Eagle Mines Ltd will post 0.19 earnings per share for the current year.

Several research firms recently commented on AEM. BMO Capital Markets set a $46.00 target price on shares of Agnico Eagle Mines and gave the company a “buy” rating in a research note on Monday. Credit Suisse Group restated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Monday, September 10th. ValuEngine upgraded shares of Agnico Eagle Mines from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Zacks Investment Research cut shares of Agnico Eagle Mines from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Finally, TheStreet cut shares of Agnico Eagle Mines from a “b-” rating to a “c+” rating in a research note on Wednesday, September 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $54.42.

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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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