Plancorp LLC decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) by 7.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 54,739 shares of the mining company’s stock after selling 4,182 shares during the quarter. Plancorp LLC’s holdings in Agnico Eagle Mines were worth $10,032,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Deutsche Bank AG purchased a new stake in Agnico Eagle Mines in the second quarter valued at $1,362,158,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Agnico Eagle Mines during the 2nd quarter worth $927,602,000. Bank of America Corp DE purchased a new position in shares of Agnico Eagle Mines during the 2nd quarter worth $844,096,000. The Manufacturers Life Insurance Company grew its holdings in shares of Agnico Eagle Mines by 9.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,091,837 shares of the mining company’s stock worth $829,916,000 after purchasing an additional 338,486 shares during the period. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Agnico Eagle Mines by 3.7% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 3,655,707 shares of the mining company’s stock worth $659,679,000 after purchasing an additional 131,514 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently issued reports on AEM shares. UBS Group raised their price objective on Agnico Eagle Mines from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, October 8th. Raymond James Financial decreased their target price on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, September 4th. Freedom Broker raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $212.00 target price on the stock in a research report on Monday, November 2nd. Zacks Research raised shares of Agnico Eagle Mines from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. Finally, RBC Dominion Securities set a $225.00 price target on shares of Agnico Eagle Mines and gave the company a “sector perform” rating in a research report on Thursday, October 22nd. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $227.00.
Read Our Latest Report on Agnico Eagle Mines
Agnico Eagle Mines Trading Up 1.3%
NYSE AEM traded up $2.53 on Friday, reaching $191.59. The stock had a trading volume of 1,750,868 shares, compared to its average volume of 1,862,876. The firm has a market capitalization of $97.13 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 2.53 and a beta of 0.69. 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 Limited has a 12-month low of $134.38 and a 12-month high of $255.24. The stock has a fifty day moving average price of $188.98 and a two-hundred day moving average price of $188.96.
Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last released its quarterly earnings results on Wednesday, October 28th. The mining company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.15. Agnico Eagle Mines had a return on equity of 21.68% and a net margin of 41.01%. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the firm earned $2.10 earnings per share. The firm’s revenue was up 17.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Agnico Eagle Mines Limited will post 11.42 EPS for the current fiscal year.
Agnico Eagle Mines Company 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.
Recommended Stories
- Five stocks we like better than Agnico Eagle Mines
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
Want to see what other hedge funds are holding AEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE: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.
