Mackenzie Financial Corp Lowers Position in Agnico Eagle Mines Limited (NYSE:AEM)

Mackenzie Financial Corp decreased its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,944,318 shares of the mining company’s stock after selling 396,139 shares during the quarter. Agnico Eagle Mines makes up 0.9% of Mackenzie Financial Corp’s portfolio, making the stock its 27th biggest holding. Mackenzie Financial Corp’s holdings in Agnico Eagle Mines were worth $585,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AEM. Continuum Advisory LLC increased its holdings in Agnico Eagle Mines by 1,134.4% in the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after acquiring an additional 363 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Agnico Eagle Mines in the second quarter worth approximately $32,000. Stephens Consulting LLC bought a new position in shares of Agnico Eagle Mines in the first quarter worth approximately $30,000. Janiczek Wealth Management LLC increased its stake in shares of Agnico Eagle Mines by 406.4% in the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after purchasing an additional 569 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its position in shares of Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after purchasing an additional 350 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 0.2 %

Shares of AEM opened at $84.08 on Friday. The business’s 50 day simple moving average is $78.84 and its 200-day simple moving average is $69.66. Agnico Eagle Mines Limited has a 1 year low of $43.22 and a 1 year high of $85.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76. The stock has a market capitalization of $42.06 billion, a price-to-earnings ratio of 88.51, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Agnico Eagle Mines’s revenue was up 20.9% on a year-over-year basis. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 3.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AEM has been the subject of several recent analyst reports. Scotiabank upped 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 report 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. TD Securities upped their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price objective on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Finally, Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.