Forsta AP Fonden Has $14.44 Million Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Forsta AP Fonden cut its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 179,100 shares of the mining company’s stock after selling 13,800 shares during the quarter. Forsta AP Fonden’s holdings in Agnico Eagle Mines were worth $14,444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of AEM. Moody Lynn & Lieberson LLC increased its holdings in shares of Agnico Eagle Mines by 1,414.8% during the third quarter. Moody Lynn & Lieberson LLC now owns 48,473 shares of the mining company’s stock worth $3,905,000 after purchasing an additional 45,273 shares during the period. Assenagon Asset Management S.A. increased its stake in Agnico Eagle Mines by 12.9% in the third quarter. Assenagon Asset Management S.A. now owns 16,744 shares of the mining company’s stock valued at $1,350,000 after acquiring an additional 1,916 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its stake in Agnico Eagle Mines by 5.5% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 94,966 shares of the mining company’s stock valued at $7,650,000 after acquiring an additional 4,977 shares during the last quarter. Riverwater Partners LLC increased its stake in Agnico Eagle Mines by 32.0% in the third quarter. Riverwater Partners LLC now owns 4,397 shares of the mining company’s stock valued at $359,000 after acquiring an additional 1,067 shares during the last quarter. Finally, Brighton Jones LLC bought a new stake in shares of Agnico Eagle Mines during the third quarter worth $232,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

AEM stock opened at $86.88 on Friday. The firm has a market cap of $43.46 billion, a P/E ratio of 91.45, a P/E/G ratio of 0.71 and a beta of 1.10. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $89.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. The firm’s fifty day moving average is $81.78 and its 200 day moving average is $73.32.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its 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. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the company posted $0.65 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. Research analysts predict that Agnico Eagle Mines Limited will post 3.88 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on AEM. Jefferies Financial Group lifted their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. TD Securities upped their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada upped their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. UBS Group started coverage on shares of Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Finally, Scotiabank boosted their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Company Profile

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.