Candriam S.C.A. lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) by 13.8% during the third quarter, Holdings Channel.com reports. The firm owned 324,156 shares of the mining company’s stock after selling 51,940 shares during the period. Candriam S.C.A.’s holdings in Agnico Eagle Mines were worth $59,658,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Cullinan Associates Inc. bought a new stake in Agnico Eagle Mines during the 3rd quarter worth about $220,000. J. Derek Lewis & Associates Inc. acquired a new stake in Agnico Eagle Mines in the 3rd quarter valued at about $348,000. Ethic Inc. increased its position in Agnico Eagle Mines by 108.4% in the 3rd quarter. Ethic Inc. now owns 5,529 shares of the mining company’s stock valued at $1,013,000 after acquiring an additional 2,876 shares in the last quarter. Parallel Advisors LLC increased its position in Agnico Eagle Mines by 3.0% in the 3rd quarter. Parallel Advisors LLC now owns 2,323 shares of the mining company’s stock valued at $426,000 after acquiring an additional 67 shares in the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co raised its stake in shares of Agnico Eagle Mines by 6.9% in the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 1,400 shares of the mining company’s stock worth $257,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. Citigroup reduced their target price on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, July 27th. Freedom Broker raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $212.00 price target for the company in a report on Monday, November 2nd. Weiss Ratings upgraded shares of Agnico Eagle Mines from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 14th. Scotiabank dropped their price objective on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Finally, Zacks Research raised Agnico Eagle Mines from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.00.
Check Out Our Latest Stock Analysis on Agnico Eagle Mines
Agnico Eagle Mines Price Performance
Agnico Eagle Mines stock opened at $191.59 on Friday. The business’s 50-day simple moving average is $188.98 and its 200 day simple moving average is $188.96. The stock has a market cap of $96.93 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 2.91 and a beta of 0.69. Agnico Eagle Mines Limited has a 12-month low of $134.38 and a 12-month high of $255.24. The company has a quick ratio of 1.90, a current ratio of 2.75 and a debt-to-equity ratio of 0.01.
Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last announced its quarterly earnings data on Wednesday, October 28th. The mining company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.15. The firm had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. Agnico Eagle Mines had a return on equity of 21.68% and a net margin of 41.01%. The company’s revenue was up 17.1% on a year-over-year basis. During the same period last year, the company earned $2.10 earnings per share. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 11.42 earnings per share for the current year.
Agnico Eagle Mines Profile
Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.
Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.
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