Gabelli Funds LLC Sells 100,600 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Gabelli Funds LLC lessened its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 684,955 shares of the mining company’s stock after selling 100,600 shares during the period. Gabelli Funds LLC owned about 0.14% of Agnico Eagle Mines worth $44,796,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. SCP Investment LP acquired a new position in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $292,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Agnico Eagle Mines by 36.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,437 shares of the mining company’s stock valued at $463,000 after purchasing an additional 2,259 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Agnico Eagle Mines by 13.5% in the fourth quarter. Wells Fargo & Company MN now owns 990,001 shares of the mining company’s stock valued at $54,331,000 after purchasing an additional 117,395 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Agnico Eagle Mines by 18.5% in the fourth quarter. Corient Private Wealth LLC now owns 21,110 shares of the mining company’s stock valued at $1,158,000 after purchasing an additional 3,292 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Agnico Eagle Mines by 2.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 53,471 shares of the mining company’s stock valued at $2,933,000 after purchasing an additional 1,395 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $83.13 on Friday. The company has a market capitalization of $41.59 billion, a price-to-earnings ratio of 87.51, a PEG ratio of 0.77 and a beta of 1.10. Agnico Eagle Mines Limited has a twelve month low of $43.22 and a twelve month high of $84.65. The stock has a fifty day simple moving average of $78.17 and a 200 day simple moving average of $68.94. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $0.65 EPS. The business’s revenue was up 20.9% compared to the same quarter last year. Sell-side analysts expect that Agnico Eagle Mines Limited will post 3.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, July 12th. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. CIBC boosted their price target on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Royal Bank of Canada boosted their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, UBS Group initiated coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average price target of $84.67.

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.