Massachusetts Financial Services has recently announced that it has increased stake in Agnico Eagle Mines Ltd (NYSE:AEM) by 1.12%. After grabbing 13.79 million shares, the institutional investor is now in possession of 0.15 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 2.79% having worth around $756.65 million. Moreover, RBC Global Asset Management, Inc. increased its share by 0.2 million to have a control over 13.49 million shares. And The Vanguard Group, Inc. raised its holdings to 0.16 million shares by acquiring 11.8 million shares or 2.39% of the stake.
Agnico Eagle Mines Ltd (AEM) concluded trading on Wednesday at a closing price of $48.95, with 3.39 million shares of worth about $166.12 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -6.42% during that period and On Wednesday, January 24 the price saw a loss of about -3.01%. Currently the company’s common shares owned by public are about 494.38M shares, out of which, 493.39M shares are available for trading.
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VanEck Gold Miners ETF, American Funds Income Fund of Ame, and DWS Top Dividende are the top 3 mutual funds which are holding stakes in Agnico Eagle Mines Ltd VanEck Gold Miners ETF is currently holding 18.92 million shares of worth totaling $1.04 billion. The company recently came selling -0.18 million shares which brought its stake up to 3.83% of the company’s outstanding shares. American Funds Income Fund of Ame bought 1.03 million shares, after which its hold over company’s outstanding shares expand to 1.96%, leaving 9.69 million shares with the mutual fund that have a worth of about $531.5 million. DWS Top Dividende, after buying 9.01 million shares, have now control over 1.82% of the stake in the company. It holds 0.0 shares of worth $494.13 million.
However, the stock later moved at a day high price of 51.63, or with a loss of -3.01%. Stock saw a price change of -0.06% in past 5 days and over the past one month there was a price change of -10.40%. Year-to-date (YTD), AEM shares are showing a performance of -10.76% which decreased to -13.19% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $43.22 but also hit the highest price of $61.15 during that period. The average intraday trading volume for Agnico Eagle Mines Ltd shares is 2.78 million. The stock is currently trading -6.43% below its 20-day simple moving average (SMA20), while that difference is down -5.46% for SMA50 and it goes to -3.99% lower than SMA200.
Massachusetts Financial Services acquired 13.79 million shares of Agnico Eagle Mines Ltd having value of about $756.65 million. Data submitted at the U.S SEC by Massachusetts Financial Services revealed that the firm now holds 0.15 million shares in the company valued at close to $7448525.7, or have control over 1.12% stake in the company. Agnico Eagle Mines Ltd (NYSE: AEM) currently have 494.38M outstanding shares and institutions hold larger chunk of about 67.66% of that. Holding of mutual funds in the company is about 15.99% while other institutional holders and individual stake holders have control over 53.41% and — of the stake respectively.
The stock has a current market capitalization of $24.20B and its 3Y-monthly beta is at 1.04. PE ratio of stock for trailing 12 months is 9.19, while it has posted earnings per share of $5.32 in the same period. It has Quick Ratio of 0.71 while making debt-to-equity ratio of 0.11. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AEM, volatility over the week remained 2.48% while standing at 2.25% over the month.
Analysts are in expectations that Agnico Eagle Mines Ltd (AEM) stock would likely to be making an EPS of $0.45 in the current quarter, while forecast for next quarter EPS is $0.61 and it is $2.49 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.36 which is $0.54 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.41 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -10.82% while it is estimated to increase by 20.72% in next year. EPS is likely to shrink at an annualized rate of -0.70% for next 5-years, compared to annual growth of 7.93% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on April 03, 2023 offering an Outperform rating for the stock and assigned a target price range of between $57 and $60 to it.
