77,686 Shares in Agnico Eagle Mines Limited $AEM Bought by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, HoldingsChannel reports. The firm purchased 77,686 shares of the mining company’s stock, valued at approximately $17,119,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new position in shares of Agnico Eagle Mines in the second quarter worth about $737,000. Diversify Advisory Services LLC acquired a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at about $1,265,000. Oxbow Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at about $14,887,000. Wealthfront Advisers LLC purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at about $500,000. Finally, Cypress Asset Management Inc. TX increased its stake in shares of Agnico Eagle Mines by 68.4% in the 2nd quarter. Cypress Asset Management Inc. TX now owns 4,210 shares of the mining company’s stock valued at $653,000 after purchasing an additional 1,710 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $186.79 on Wednesday. The company has a market cap of $94.68 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.32 and a beta of 0.61. The stock’s 50 day simple moving average is $157.75 and its 200-day simple moving average is $186.40. Agnico Eagle Mines Limited has a 1-year low of $130.04 and a 1-year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on AEM. JPMorgan Chase & Co. increased their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Zacks Research cut Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Citigroup reduced their target price on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Barclays decreased their target price on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Finally, Scotia dropped their price target on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 3rd. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $226.00.

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.