APG Asset Management N.V. Sells 250,013 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

APG Asset Management N.V. lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 16.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,238,191 shares of the mining company’s stock after selling 250,013 shares during the quarter. APG Asset Management N.V.’s holdings in Agnico Eagle Mines were worth $75,549,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Financial Sense Advisors Inc. boosted its stake in shares of Agnico Eagle Mines by 372.3% during 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. Campbell & CO Investment Adviser LLC purchased a new position in shares of Agnico Eagle Mines during the 4th quarter worth approximately $2,297,000. Manning & Napier Advisors LLC bought a new position in shares of Agnico Eagle Mines in the 2nd quarter worth approximately $2,595,000. FIL Ltd raised its position in shares of Agnico Eagle Mines by 16.4% in the 4th 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 in the last quarter. Finally, Crestline Management LP lifted its stake 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 purchasing an additional 40,483 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of research reports. 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 report on Tuesday, September 10th. CIBC increased their price target on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Jefferies Financial Group boosted their price objective 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. TD Securities raised their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, UBS Group assumed coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target on the stock. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.67.

Agnico Eagle Mines Trading Down 0.2 %

Shares of NYSE:AEM opened at $84.08 on Friday. 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 Limited has a 1 year low of $43.22 and a 1 year high of $85.14. The company has a market cap of $42.06 billion, a P/E ratio of 88.51, a PEG ratio of 0.78 and a beta of 1.10. The stock’s fifty day moving average price is $78.84 and its 200-day moving average price is $69.66.

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 for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. Sell-side analysts expect that Agnico Eagle Mines Limited will post 3.73 earnings per share 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.