Raymond James & Associates Sells 5,048 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Raymond James & Associates lowered its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 349,573 shares of the mining company’s stock after selling 5,048 shares during the quarter. Raymond James & Associates owned 0.07% of Agnico Eagle Mines worth $28,162,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AEM. Van ECK Associates Corp increased its position in Agnico Eagle Mines by 0.3% during the second quarter. Van ECK Associates Corp now owns 22,320,085 shares of the mining company’s stock valued at $1,459,741,000 after acquiring an additional 58,681 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Agnico Eagle Mines by 1.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock valued at $868,638,000 after purchasing an additional 134,872 shares during the last quarter. Capital World Investors raised its position in Agnico Eagle Mines by 0.8% in the 1st quarter. Capital World Investors now owns 9,769,275 shares of the mining company’s stock worth $582,529,000 after purchasing an additional 79,275 shares during the period. First Eagle Investment Management LLC lifted its stake in Agnico Eagle Mines by 10.8% in the first quarter. First Eagle Investment Management LLC now owns 6,891,385 shares of the mining company’s stock worth $411,106,000 after purchasing an additional 672,503 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Agnico Eagle Mines by 4.1% during the second quarter. CIBC Asset Management Inc now owns 6,083,606 shares of the mining company’s stock valued at $397,657,000 after buying an additional 237,347 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. UBS Group started coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Scotiabank upped their price target 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. CIBC lifted their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, TD Securities upped their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $88.64 on Thursday. The company has a market cap of $44.34 billion, a PE ratio of 93.31, a P/E/G ratio of 0.71 and a beta of 1.10. The firm’s 50 day moving average price is $81.23 and its 200-day moving average price is $72.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. Agnico Eagle Mines Limited has a 52-week low of $44.37 and a 52-week high of $88.64.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 3.88 EPS for the current fiscal 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.