Capital World Investors Buys 572,473 Shares of Agnico Eagle Mines Limited $AEM

Capital World Investors grew its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,338,277 shares of the mining company’s stock after acquiring an additional 572,473 shares during the quarter. Capital World Investors owned 4.26% of Agnico Eagle Mines worth $3,618,730,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MCF Advisors LLC bought a new stake in Agnico Eagle Mines in the third quarter worth $34,000. Abound Wealth Management boosted 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 acquiring an additional 104 shares in the last quarter. Lodestone Wealth Management LLC bought a new stake in Agnico Eagle Mines in the fourth quarter worth $35,000. Caitlin John LLC bought a new stake in Agnico Eagle Mines in the third quarter worth $36,000. Finally, Bangor Savings Bank bought a new stake in Agnico Eagle Mines in the fourth quarter worth $37,000. 68.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AEM shares. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. UBS Group lowered their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. TD upped their price target on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Finally, Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Trading Down 7.6%

Shares of NYSE:AEM opened at $163.39 on Friday. The company has a market cap of $81.77 billion, a P/E ratio of 15.36, a PEG ratio of 3.60 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. Agnico Eagle Mines Limited has a 1 year low of $114.60 and a 1 year high of $255.24. The stock’s fifty day moving average price is $193.89 and its 200-day moving average price is $194.53.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company’s quarterly revenue was up 66.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 earnings per share. Sell-side analysts expect that Agnico Eagle Mines Limited will post 13.18 earnings per share for the current year.

Trending Headlines about Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Agnico Eagle approved an investment decision for its Hope Bay project, a new underground mine with a 6,000-tonne-per-day processing facility, which could support longer-term production growth. Agnico Eagle Mines (AEM) Approves Investment for Hope Bay Gold Project
• Positive Sentiment: CIBC lifted its price target on Agnico Eagle Mines and kept an Outperform rating, signaling confidence in the company’s operating strength and future upside. Is Agnico Eagle Mines Limited (AEM) among the Best Silver and Copper Stocks to Buy for the EV Transition?
• Positive Sentiment: Recent market coverage highlighted strong analyst support, hedge fund interest, and favorable long-term growth investments, which may be reinforcing bullish sentiment around the stock. Agnico Eagle Mines (AEM) Ends May With Strong Analyst Support
• Neutral Sentiment: Agnico Eagle entered a $5 million royalty purchase agreement with Prism Resources tied to properties in Ontario; the deal is modest in size and appears more like a capital structure/royalty cleanup transaction than a major operational shift. AGNICO EAGLE UPDATES EARLY WARNING REPORT IN RESPECT OF PRISM RESOURCES INC.
• Neutral Sentiment: Several articles noted that AEM has been trending among retail investors and outpacing the broader market, but these pieces were mostly commentary rather than new fundamental information. Agnico Eagle Mines (AEM) Outpaces Stock Market Gains: What You Should Know

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.