Invesco Ltd. Purchases 1,444,746 Shares of Agnico Eagle Mines Limited $AEM

Invesco Ltd. lifted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 53.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,164,046 shares of the mining company’s stock after buying an additional 1,444,746 shares during the period. Invesco Ltd. owned approximately 0.83% of Agnico Eagle Mines worth $495,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Luminist Capital LLC bought a new position in Agnico Eagle Mines in the second quarter valued at about $52,000. Trek Financial LLC increased its position in shares of Agnico Eagle Mines by 74.8% during the 2nd quarter. Trek Financial LLC now owns 78,472 shares of the mining company’s stock valued at $9,333,000 after purchasing an additional 33,591 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Agnico Eagle Mines by 38.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,268,575 shares of the mining company’s stock worth $150,872,000 after purchasing an additional 350,446 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter worth approximately $29,000. Finally, Blueshift Asset Management LLC bought a new stake in Agnico Eagle Mines during the second quarter valued at approximately $769,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $171.65 on Friday. The company has a market capitalization of $86.11 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 0.62 and a beta of 0.64. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $166.88 and its 200-day simple moving average is $143.10. Agnico Eagle Mines Limited has a 52 week low of $76.91 and a 52 week high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping 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 firm 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 earnings per share. As a group, analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. CIBC lifted their price target on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. UBS Group lifted their target price on Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday. Raymond James Financial boosted their price target on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Finally, Bank of America lifted their price objective on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Five investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $185.50.

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.