Agnico Eagle Mines Limited $AEM Shares Purchased by Groupe la Francaise

Groupe la Francaise increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 291,666 shares of the mining company’s stock after buying an additional 29,831 shares during the period. Groupe la Francaise’s holdings in Agnico Eagle Mines were worth $45,336,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the fourth quarter worth $26,000. Markowski Investments purchased a new position in Agnico Eagle Mines in the second quarter valued at $29,000. Dunhill Financial LLC purchased a new position in Agnico Eagle Mines in the second quarter valued at $31,000. Fiduciary Financial Advisors acquired a new position in Agnico Eagle Mines during the 2nd quarter worth $32,000. Finally, Jessup Wealth Management Inc purchased a new stake in Agnico Eagle Mines during the 4th quarter worth about $35,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $204.75 on Monday. The company’s fifty day moving average price is $169.72 and its 200 day moving average price is $186.84. Agnico Eagle Mines Limited has a 12 month low of $134.38 and a 12 month 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. The firm has a market capitalization of $103.79 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.55 and a beta of 0.67.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.16. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. Agnico Eagle Mines’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.94 earnings per share. As a group, sell-side analysts predict that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Zacks Research lowered Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and upped their target price for the stock from $187.00 to $200.00 in a research note on Monday, July 6th. Citigroup reduced their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Raymond James Financial decreased their price target on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Canadian Imperial Bank of Commerce set a $285.00 price objective on shares of Agnico Eagle Mines in a research report on Thursday, July 16th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $226.00.

About Agnico Eagle Mines

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.