Hillsdale Investment Management Inc. reduced its position in Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) by 7.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 383,209 shares of the mining company’s stock after selling 31,734 shares during the quarter. Agnico Eagle Mines makes up approximately 2.1% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 6th biggest position. Hillsdale Investment Management Inc.’s holdings in Agnico Eagle Mines were worth $77,766,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of AEM. Acumen Wealth Advisors LLC purchased a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $26,000. Abound Wealth Management grew its stake in Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after buying an additional 104 shares during the period. Lodestone Wealth Management LLC purchased a new stake in Agnico Eagle Mines during the fourth quarter worth approximately $35,000. Jessup Wealth Management Inc acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $35,000. Finally, Bangor Savings Bank purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.
Wall Street Analyst Weigh In
AEM has been the topic of several recent research reports. Royal Bank Of Canada reduced their target price on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. increased their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce boosted their price objective on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus price target of $238.31.
Agnico Eagle Mines Price Performance
AEM opened at $143.47 on Tuesday. Agnico Eagle Mines Limited has a 1-year low of $116.83 and a 1-year high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The company has a market capitalization of $72.82 billion, a P/E ratio of 13.48, a PEG ratio of 1.93 and a beta of 0.60. The company has a 50-day moving average of $169.18 and a 200-day moving average of $192.66.
Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the company posted $1.53 EPS. The business’s revenue was up 66.1% compared to the same quarter last year. Equities analysts expect that Agnico Eagle Mines Limited will post 12.44 EPS for the current fiscal year.
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.
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