First Eagle Investment Management LLC Has $628.44 Million Stock Position in Agnico Eagle Mines Limited $AEM

First Eagle Investment Management LLC decreased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 19.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,271,369 shares of the mining company’s stock after selling 1,263,684 shares during the quarter. First Eagle Investment Management LLC owned 1.05% of Agnico Eagle Mines worth $628,438,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Ameritas Advisory Services LLC acquired a new position in Agnico Eagle Mines in the second quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. bought a new position in Agnico Eagle Mines in the 1st quarter valued at $26,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Agnico Eagle Mines in the first quarter valued at about $26,000. Private Trust Co. NA lifted its position in shares of Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock worth $31,000 after purchasing an additional 232 shares in the last quarter. Finally, City State Bank lifted its holdings in 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 buying an additional 110 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AEM. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a research note on Friday, October 24th. Bank of America upped their target price on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. TD Securities boosted their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Citigroup upped their price objective on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Five investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $159.58 on Friday. The company has a market capitalization of $80.18 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 0.70 and a beta of 0.45. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $187.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The company’s 50 day moving average price is $161.07 and its two-hundred day moving average price is $135.67.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data 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 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 period last year, the business posted $1.14 earnings per share. On average, analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

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.