NewEdge Advisors LLC lessened its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) by 37.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 17,191 shares of the mining company’s stock after selling 10,280 shares during the quarter. NewEdge Advisors LLC’s holdings in Agnico Eagle Mines were worth $3,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of the stock. Capital World Investors increased its stake in Agnico Eagle Mines by 2.8% in the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock valued at $3,618,730,000 after buying an additional 572,473 shares during the period. Vanguard Group Inc. lifted its stake in shares of Agnico Eagle Mines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock worth $3,557,772,000 after acquiring an additional 309,717 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after acquiring an additional 3,062,705 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Agnico Eagle Mines by 1.7% in the fourth quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock valued at $1,641,239,000 after acquiring an additional 165,263 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Agnico Eagle Mines by 4.0% during the fourth quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company’s stock worth $1,489,509,000 after acquiring an additional 332,797 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AEM. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group dropped their price objective on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Scotia reduced their target price on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a report on Friday, July 3rd. Finally, TD raised their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus target price of $226.00.
Agnico Eagle Mines Trading Up 1.8%
Shares of Agnico Eagle Mines stock opened at $185.08 on Thursday. Agnico Eagle Mines Limited has a 12-month low of $130.04 and a 12-month high of $255.24. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. The stock has a market cap of $93.79 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 2.24 and a beta of 0.60. The company has a 50-day moving average of $156.13 and a two-hundred day moving average of $187.29.
Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the prior year, the firm posted $1.94 EPS. The company’s revenue was up 35.0% compared to the same quarter last year. On average, research analysts anticipate that Agnico Eagle Mines Limited will post 11.68 EPS for the current fiscal year.
Agnico Eagle Mines Profile
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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