Osmosis Investment Management UK Ltd Purchases New Holdings in Agnico Eagle Mines Limited $AEM

Osmosis Investment Management UK Ltd acquired a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 45,011 shares of the mining company’s stock, valued at approximately $6,991,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. K.J. Harrison & Partners Inc acquired a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth $6,923,000. BIP Wealth LLC acquired a new position in shares of Agnico Eagle Mines during the second quarter worth about $1,167,000. Annex Advisory Services LLC raised its holdings in Agnico Eagle Mines by 70.5% during the second quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company’s stock worth $4,500,000 after purchasing an additional 11,995 shares in the last quarter. RFG Advisory LLC purchased a new position in Agnico Eagle Mines during the fourth quarter worth about $1,122,000. Finally, Harvest Portfolios Group Inc. lifted its position in Agnico Eagle Mines by 45.7% in the fourth quarter. Harvest Portfolios Group Inc. now owns 137,292 shares of the mining company’s stock valued at $23,282,000 after purchasing an additional 43,051 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AEM has been the topic of a number of analyst reports. UBS Group lowered their price objective on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Barclays cut their target price on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Scotiabank reduced their price target on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Finally, Zacks Research downgraded Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.00.

Agnico Eagle Mines Trading Up 0.4%

Shares of AEM opened at $217.02 on Monday. Agnico Eagle Mines Limited has a twelve month low of $133.80 and a twelve month high of $255.24. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $110.01 billion, a P/E ratio of 18.56, a PEG ratio of 2.69 and a beta of 0.61. The firm’s 50-day moving average is $161.03 and its two-hundred day moving average is $186.68.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same period last year, the firm earned $1.94 EPS. On average, research analysts predict that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

Agnico Eagle Mines Profile

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.