Mufg Securities Canada LTD. Has $129.79 Million Stake in Agnico Eagle Mines Limited $AEM

Mufg Securities Canada LTD. cut its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 765,186 shares of the mining company’s stock after selling 66,843 shares during the quarter. Agnico Eagle Mines makes up approximately 3.6% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 9th largest holding. Mufg Securities Canada LTD.’s holdings in Agnico Eagle Mines were worth $129,791,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Acumen Wealth Advisors LLC bought a new position in Agnico Eagle Mines in the fourth quarter worth about $26,000. Abound Wealth Management raised its holdings in Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares in the last quarter. Lodestone Wealth Management LLC bought a new position in Agnico Eagle Mines in the fourth quarter worth about $35,000. Jessup Wealth Management Inc bought a new position in Agnico Eagle Mines in the fourth quarter worth about $35,000. Finally, Caitlin John LLC bought a new position in Agnico Eagle Mines in the third quarter worth about $36,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Up 0.0%

Agnico Eagle Mines stock opened at $162.70 on Monday. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 12 month low of $114.60 and a 12 month high of $255.24. The stock’s 50 day simple moving average is $190.08 and its two-hundred day simple moving average is $194.56. The firm has a market cap of $81.43 billion, a PE ratio of 15.29, a P/E/G ratio of 3.57 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the firm posted $1.53 EPS. The business’s quarterly revenue was up 66.1% compared to the same quarter last year. Analysts anticipate that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current year.

Wall Street Analyst Weigh In

AEM has been the subject of a number of recent research reports. TD Securities boosted their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. UBS Group dropped their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. Canadian Imperial Bank of Commerce boosted their price target on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. Erste Group Bank lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Finally, JPMorgan Chase & Co. boosted their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.08.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.