Royal London Asset Management Ltd. Sells 3,826 Shares of Agnico Eagle Mines Limited $AEM

Royal London Asset Management Ltd. trimmed its position in Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,182 shares of the mining company’s stock after selling 3,826 shares during the quarter. Royal London Asset Management Ltd. owned about 0.05% of Agnico Eagle Mines worth $40,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AEM. Wellington Management Group LLP purchased a new position in Agnico Eagle Mines during the second quarter valued at approximately $27,993,000. Beacon Pointe Advisors LLC bought a new position in shares of Agnico Eagle Mines in the second quarter worth approximately $9,897,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Agnico Eagle Mines in the second quarter worth $1,123,000. 49 Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines in the second quarter worth $396,000. Finally, Twin Lakes Capital Management LLC bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at $2,814,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 4.2%

Shares of AEM opened at $206.41 on Friday. The company has a market cap of $104.63 billion, a PE ratio of 17.66, a P/E/G ratio of 2.56 and a beta of 0.60. The business has a fifty day moving average of $165.50 and a 200 day moving average of $187.44. Agnico Eagle Mines Limited has a 52-week low of $134.38 and a 52-week high of $255.24. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business’s revenue was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 earnings per share. On average, sell-side analysts expect that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Scotiabank dropped their target price on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Jefferies Financial Group raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and raised their price target for the company from $187.00 to $200.00 in a report on Monday, July 6th. Weiss Ratings cut Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Canadian Imperial Bank of Commerce set a $285.00 target price on Agnico Eagle Mines in a research report on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.00.

Read Our Latest Stock Report on Agnico Eagle Mines

About Agnico Eagle Mines

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

Receive News & Ratings for Agnico Eagle Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agnico Eagle Mines and related companies with MarketBeat.com's FREE daily email newsletter.