Mcrae Capital Management Inc. Cuts Position in Agnico Eagle Mines Limited $AEM

Mcrae Capital Management Inc. lowered its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.5% during the second quarter, HoldingsChannel.com reports. The firm owned 7,000 shares of the mining company’s stock after selling 1,000 shares during the period. Mcrae Capital Management Inc.’s holdings in Agnico Eagle Mines were worth $833,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after purchasing an additional 331 shares in the last quarter. Private Trust Co. NA raised its position in shares of Agnico Eagle Mines by 454.9% during the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock worth $31,000 after purchasing an additional 232 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Agnico Eagle Mines by 34.7% during the 1st quarter. Principal Financial Group Inc. now owns 27,915 shares of the mining company’s stock worth $3,024,000 after purchasing an additional 7,185 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in Agnico Eagle Mines in the 1st quarter valued at about $234,000. Finally, World Investment Advisors acquired a new stake in Agnico Eagle Mines in the 1st quarter worth about $405,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James Financial raised their target price on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. TD Securities boosted their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Citigroup raised their target price on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, CIBC upped their price target on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Four research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $159.58 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The company has a market cap of $80.18 billion, a P/E ratio of 23.30, a P/E/G ratio of 0.70 and a beta of 0.45. The stock has a 50-day moving average of $161.07 and a two-hundred day moving average of $135.67. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.76 by $0.40. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. During the same quarter last year, the firm posted $1.14 earnings per share. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines 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.