International Assets Investment Management LLC Sells 185,583 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

International Assets Investment Management LLC reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 98.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,650 shares of the mining company’s stock after selling 185,583 shares during the period. International Assets Investment Management LLC’s holdings in Agnico Eagle Mines were worth $224,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $33,000. CVA Family Office LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $36,000. Scarborough Advisors LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $47,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $49,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth approximately $54,000. 68.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. TD Securities boosted their target price on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Jefferies Financial Group boosted their target price on Agnico Eagle Mines from $58.00 to $59.00 and gave the stock a “hold” rating in a research note on Thursday, June 20th. Citigroup boosted their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Scotiabank upped their price objective on Agnico Eagle Mines from $71.00 to $81.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 23rd. Finally, BMO Capital Markets dropped their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.22.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $65.36 on Thursday. The stock’s 50 day simple moving average is $66.22 and its two-hundred day simple moving average is $57.79. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21. The stock has a market cap of $32.70 billion, a price-to-earnings ratio of 68.80, a PEG ratio of 0.72 and a beta of 1.11. Agnico Eagle Mines Limited has a fifty-two week low of $43.22 and a fifty-two week high of $71.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.16. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The business’s revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 EPS. As a group, analysts expect that Agnico Eagle Mines Limited will post 3.16 earnings per share for the current fiscal year.

About Agnico Eagle Mines

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.