JPMorgan Chase & Co. Sells 224,432 Shares of Agnico Eagle Mines Limited $AEM

JPMorgan Chase & Co. cut its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,904,793 shares of the mining company’s stock after selling 224,432 shares during the period. JPMorgan Chase & Co. owned about 0.58% of Agnico Eagle Mines worth $345,467,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AEM shares. 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 report on Wednesday, October 15th. Zacks Research lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Wall Street Zen raised shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Raymond James Financial boosted 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. Finally, Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Five analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Trading Up 4.0%

AEM stock opened at $166.46 on Tuesday. Agnico Eagle Mines Limited has a 12 month low of $76.91 and a 12 month high of $187.50. The firm’s 50-day moving average is $164.77 and its 200 day moving average is $140.04. The company has a market capitalization of $83.50 billion, a PE ratio of 24.30, a P/E/G ratio of 0.70 and a beta of 0.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $1.14 EPS. On average, research 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.