Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 13.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 864,953 shares of the mining company’s stock after selling 129,431 shares during the period. 1832 Asset Management L.P. owned 0.17% of Agnico Eagle Mines worth $56,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of AEM. Financial Sense Advisors Inc. lifted its holdings in shares of Agnico Eagle Mines by 372.3% in the 1st quarter. Financial Sense Advisors Inc. now owns 62,330 shares of the mining company’s stock valued at $3,718,000 after purchasing an additional 49,132 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $2,297,000. Manning & Napier Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $2,595,000. FIL Ltd grew its position in shares of Agnico Eagle Mines by 16.4% during the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after acquiring an additional 2,831,794 shares during the last quarter. Finally, Crestline Management LP increased its holdings in shares of Agnico Eagle Mines by 28.8% in the 4th quarter. Crestline Management LP now owns 180,891 shares of the mining company’s stock valued at $9,922,000 after acquiring an additional 40,483 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $83.13 on Monday. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $78.17 and a 200-day simple moving average of $69.05. The company has a market cap of $41.59 billion, a price-to-earnings ratio of 87.51, a price-to-earnings-growth ratio of 0.77 and a beta of 1.10. Agnico Eagle Mines Limited has a 12-month low of $43.22 and a 12-month high of $84.65.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the business posted $0.65 earnings per share. Agnico Eagle Mines’s revenue was up 20.9% compared to the same quarter last year. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 3.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Scotiabank increased their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. Royal Bank of Canada increased their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, CIBC lifted their target price 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $84.67.

Agnico Eagle Mines 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.