Agnico Eagle Mines Limited $AEM Shares Sold by Old West Investment Management LLC

Old West Investment Management LLC cut its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,129 shares of the mining company’s stock after selling 9,252 shares during the period. Agnico Eagle Mines makes up approximately 3.8% of Old West Investment Management LLC’s holdings, making the stock its 8th biggest position. Old West Investment Management LLC’s holdings in Agnico Eagle Mines were worth $11,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Ameritas Advisory Services LLC bought a new stake in shares of Agnico Eagle Mines in the second quarter valued at about $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in Agnico Eagle Mines in the 1st quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Agnico Eagle Mines in the 1st quarter worth approximately $26,000. City State Bank grew its holdings in shares of Agnico Eagle Mines by 69.2% during the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after purchasing an additional 110 shares in the last quarter. Finally, Dagco Inc. acquired a new stake in shares of Agnico Eagle Mines during the 1st quarter worth approximately $39,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

AEM stock opened at $168.67 on Friday. The company has a 50 day moving average price of $163.19 and a 200 day moving average price of $137.32. 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 stock has a market capitalization of $84.75 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 0.70 and a beta of 0.45. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the company posted $1.14 EPS. Analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AEM shares. Citigroup upped their target price on Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a research note on Friday, October 24th. UBS Group lifted their target price on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. CIBC upped their target price on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Finally, Raymond James Financial raised their price target on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $184.50.

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.