Union Bancaire Privee UBP SA Increases Stake in Agnico Eagle Mines Limited $AEM

Union Bancaire Privee UBP SA lifted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 226.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,454 shares of the mining company’s stock after acquiring an additional 13,496 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Agnico Eagle Mines were worth $3,949,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AEM. Norges Bank bought a new position in Agnico Eagle Mines during the 4th quarter worth about $1,367,783,000. Capital World Investors raised its holdings in shares of Agnico Eagle Mines by 20.0% in the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after purchasing an additional 3,462,968 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Agnico Eagle Mines by 21.6% in the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after purchasing an additional 3,062,705 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $194,195,000. Finally, Employees Provident Fund Board purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $183,341,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 0.7%

NYSE:AEM opened at $157.24 on Friday. Agnico Eagle Mines Limited has a fifty-two week low of $114.60 and a fifty-two week high of $255.24. The stock has a market capitalization of $79.81 billion, a P/E ratio of 14.78, a P/E/G ratio of 3.45 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The company’s 50-day simple moving average is $180.30 and its 200-day simple moving average is $193.98.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company’s quarterly revenue was up 66.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 EPS. On average, equities analysts anticipate that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. TD Securities increased their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Finally, UBS Group cut their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average target price of $236.08.

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.