Royal Fund Management LLC Cuts Position in Agnico Eagle Mines Limited (NYSE:AEM)

Royal Fund Management LLC lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,983 shares of the mining company’s stock after selling 280 shares during the quarter. Royal Fund Management LLC’s holdings in Agnico Eagle Mines were worth $2,093,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in AEM. Financial Sense Advisors Inc. increased its stake in 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 in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the second quarter valued at $2,595,000. FIL Ltd raised its stake in shares of Agnico Eagle Mines by 16.4% during the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after buying an additional 2,831,794 shares during the last quarter. Capital Wealth Planning LLC boosted its position in shares of Agnico Eagle Mines by 62.3% in the 1st quarter. Capital Wealth Planning LLC now owns 2,620,345 shares of the mining company’s stock worth $156,304,000 after buying an additional 1,006,001 shares in the last quarter. Finally, Paragon Associates & Paragon Associates II Joint Venture grew its stake in Agnico Eagle Mines by 20.0% in the 4th quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 150,000 shares of the mining company’s stock valued at $8,228,000 after acquiring an additional 25,000 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AEM. StockNews.com upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. BMO Capital Markets reduced their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. UBS Group began coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective for the company. Finally, TD Securities upped their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $86.78.

Agnico Eagle Mines Trading Down 1.0 %

NYSE:AEM traded down $0.82 during trading hours on Wednesday, reaching $77.36. 198,698 shares of the company were exchanged, compared to its average volume of 2,676,951. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $85.14. The stock has a 50 day simple moving average of $79.76 and a 200 day simple moving average of $71.24. The firm has a market cap of $38.70 billion, a price-to-earnings ratio of 82.29, a PEG ratio of 0.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76.

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. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. As a group, analysts predict that Agnico Eagle Mines Limited will post 3.73 EPS for the current 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.