Agnico Eagle Mines Limited $AEM Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,091,837 shares of the mining company’s stock after buying an additional 338,486 shares during the period. Agnico Eagle Mines comprises 0.7% of The Manufacturers Life Insurance Company’s portfolio, making the stock its 21st largest holding. The Manufacturers Life Insurance Company’s holdings in Agnico Eagle Mines were worth $829,916,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Acumen Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $26,000. Lodestone Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Jessup Wealth Management Inc acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $35,000. Bangor Savings Bank purchased a new position in Agnico Eagle Mines in the 4th quarter valued at approximately $37,000. Finally, Banque Cantonale Vaudoise purchased a new position in Agnico Eagle Mines in the 4th quarter valued at approximately $39,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a report on Monday. Barclays dropped their price target on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. UBS Group cut their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Agnico Eagle Mines from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus price target of $225.69.

Agnico Eagle Mines Trading Up 0.5%

Shares of Agnico Eagle Mines stock opened at $145.89 on Tuesday. Agnico Eagle Mines Limited has a 1 year low of $122.32 and a 1 year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The business has a 50 day moving average price of $159.78 and a 200 day moving average price of $190.32. The company has a market capitalization of $74.05 billion, a P/E ratio of 13.71, a P/E/G ratio of 2.21 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 30th. The mining company reported $3.40 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 analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.Agnico Eagle Mines’s quarterly revenue was up 66.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 EPS. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 11.83 EPS for the current fiscal year.

Agnico Eagle Mines Company 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.