Korea Investment CORP Sells 497,837 Shares of Agnico Eagle Mines Limited $AEM

Korea Investment CORP trimmed its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 51.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 474,758 shares of the mining company’s stock after selling 497,837 shares during the quarter. Korea Investment CORP owned 0.09% of Agnico Eagle Mines worth $80,616,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AEM. Brighton Jones LLC lifted its holdings in Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after acquiring an additional 331 shares during the period. AQR Capital Management LLC lifted its holdings in Agnico Eagle Mines by 36.4% during the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock worth $2,150,000 after acquiring an additional 5,293 shares during the period. Sivia Capital Partners LLC lifted its holdings in Agnico Eagle Mines by 57.2% during the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock worth $379,000 after acquiring an additional 1,160 shares during the period. Rhumbline Advisers lifted its holdings in Agnico Eagle Mines by 8.0% during the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock worth $215,000 after acquiring an additional 134 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Agnico Eagle Mines by 25.2% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company’s stock worth $110,000 after acquiring an additional 187 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $162.70 on Friday. The firm’s 50 day simple moving average is $190.08 and its 200 day simple moving average is $194.36. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $81.43 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 3.46 and a beta of 0.56. Agnico Eagle Mines Limited has a 1-year low of $114.60 and a 1-year high of $255.24.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AEM shares. Barclays started coverage on Agnico Eagle Mines in a report on Thursday, May 21st. They set an “overweight” rating and a $213.00 price target on the stock. TD Securities boosted their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Finally, Scotiabank reiterated an “outperform” rating and issued a $280.00 target price on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and an average target price of $236.08.

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.