Addenda Capital Inc. Has $455,000 Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Addenda Capital Inc. lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 31.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,627 shares of the mining company’s stock after selling 3,570 shares during the period. Addenda Capital Inc.’s holdings in Agnico Eagle Mines were worth $455,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth about $33,000. CVA Family Office LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth about $36,000. Janiczek Wealth Management LLC increased its stake in Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after acquiring an additional 569 shares during the period. Scarborough Advisors LLC bought a new position in Agnico Eagle Mines during the fourth quarter valued at about $47,000. Finally, Atlantic Edge Private Wealth Management LLC bought a new position in Agnico Eagle Mines during the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 1.5 %

NYSE AEM opened at $65.40 on Friday. The firm has a market cap of $32.72 billion, a PE ratio of 68.84, a price-to-earnings-growth ratio of 0.73 and a beta of 1.11. Agnico Eagle Mines Limited has a one year low of $43.22 and a one year high of $71.50. The stock’s 50 day simple moving average is $66.31 and its 200 day simple moving average is $57.95. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88.

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 (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the business earned $0.57 EPS. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Agnico Eagle Mines Limited will post 3.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BMO Capital Markets lowered their price target 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. Scotiabank boosted their price target 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. CIBC boosted their price target on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Jefferies Financial Group upped their price objective on Agnico Eagle Mines from $58.00 to $59.00 and gave the company a “hold” rating in a research note on Thursday, June 20th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $72.22.

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.