Agnico Eagle Mines Limited (NYSE:AEM) is Van ECK Associates Corp’s 5th Largest Position

Van ECK Associates Corp grew its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,320,085 shares of the mining company’s stock after purchasing an additional 58,681 shares during the quarter. Agnico Eagle Mines comprises approximately 2.1% of Van ECK Associates Corp’s investment portfolio, making the stock its 5th biggest holding. Van ECK Associates Corp owned about 4.46% of Agnico Eagle Mines worth $1,459,741,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AEM. Continuum Advisory LLC grew its stake in Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after buying an additional 363 shares during the last quarter. Stephens Consulting LLC purchased a new stake in shares of Agnico Eagle Mines during the first quarter worth about $30,000. Janiczek Wealth Management LLC increased its holdings in shares of Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after acquiring an additional 569 shares in the last quarter. Scarborough Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $47,000. Finally, WASHINGTON TRUST Co boosted its stake in Agnico Eagle Mines by 92.1% in the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after purchasing an additional 350 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

AEM stock traded down $0.22 during trading on Friday, hitting $81.47. 1,309,792 shares of the company traded hands, compared to its average volume of 2,370,050. Agnico Eagle Mines Limited has a 1 year low of $43.22 and a 1 year high of $83.50. The company has a market cap of $40.80 billion, a PE ratio of 85.76, a P/E/G ratio of 0.79 and a beta of 1.06. The stock’s 50-day simple moving average is $74.60 and its 200 day simple moving average is $65.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the firm earned $0.65 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. On average, equities analysts expect that Agnico Eagle Mines Limited will post 3.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AEM has been the topic of a number of recent analyst reports. CIBC upped their price target on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank raised their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group boosted their price target on Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, July 12th. TD Securities raised their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets decreased their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.86.

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.