Forsta AP Fonden Increases Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Forsta AP Fonden boosted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 78.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,900 shares of the mining company’s stock after acquiring an additional 85,000 shares during the quarter. Forsta AP Fonden’s holdings in Agnico Eagle Mines were worth $12,614,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AEM. Continuum Advisory LLC boosted its holdings in Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after acquiring an additional 363 shares during the period. Stephens Consulting LLC purchased a new position in Agnico Eagle Mines during the 1st quarter valued at $30,000. Janiczek Wealth Management LLC boosted its holdings in Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after acquiring an additional 569 shares during the period. Scarborough Advisors LLC purchased a new position in Agnico Eagle Mines during the 4th quarter valued at $47,000. Finally, WASHINGTON TRUST Co boosted its holdings in Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after acquiring an additional 350 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AEM shares. Scotiabank boosted their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. CIBC boosted their price objective on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. TD Securities lifted their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. BMO Capital Markets decreased their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Finally, StockNews.com raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.38.

Agnico Eagle Mines Trading Up 3.5 %

AEM opened at $81.86 on Friday. The firm has a market cap of $40.95 billion, a price-to-earnings ratio of 86.17, a PEG ratio of 0.75 and a beta of 1.10. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 12 month low of $43.22 and a 12 month high of $83.50. The stock has a fifty day moving average price of $76.95 and a 200-day moving average price of $67.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.93 by $0.14. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 3.65 earnings per share for the current fiscal year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.