International Assets Investment Management LLC Trims Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

International Assets Investment Management LLC decreased its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 98.1% in the 1st quarter, Holdings Channel reports. The firm 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 Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the company. Van ECK Associates Corp raised its position in Agnico Eagle Mines by 9.5% during the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock worth $1,264,791,000 after buying an additional 1,995,127 shares during the last quarter. FIL Ltd raised its position in 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. Vanguard Group Inc. raised its position in Agnico Eagle Mines by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock worth $963,320,000 after buying an additional 338,264 shares during the last quarter. Mackenzie Financial Corp raised its position in Agnico Eagle Mines by 0.4% during the 4th quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock worth $538,193,000 after buying an additional 41,068 shares during the last quarter. Finally, Capital World Investors raised its position in Agnico Eagle Mines by 12.0% during the 4th quarter. Capital World Investors now owns 9,690,000 shares of the mining company’s stock worth $531,284,000 after buying an additional 1,034,721 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $65.36 on Thursday. 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 52 week low of $43.22 and a 52 week high of $71.50. The company’s 50-day moving average price is $66.22 and its 200 day moving average price is $57.79. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results 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 net margin of 6.79% and a return on equity of 6.09%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 3.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BMO Capital Markets cut their price objective on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Scotiabank increased their price target on shares of Agnico Eagle Mines from $71.00 to $81.00 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd. Citigroup increased their price target on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Jefferies Financial Group increased their price target on shares of Agnico Eagle Mines from $58.00 to $59.00 and gave the company a “hold” rating in a report on Thursday, June 20th. Finally, CIBC increased their price target on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.22.

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.