Agnico Eagle Mines Limited (NYSE:AEM) Stake Lessened by Private Advisor Group LLC

Private Advisor Group LLC trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 16.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,317 shares of the mining company’s stock after selling 1,872 shares during the period. Private Advisor Group LLC’s holdings in Agnico Eagle Mines were worth $609,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC raised its holdings in shares of 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 purchasing an additional 363 shares in the last quarter. Stephens Consulting LLC bought a new position in shares of Agnico Eagle Mines in the first quarter valued at $30,000. Janiczek Wealth Management LLC increased its holdings 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 valued at $42,000 after buying an additional 569 shares in the last quarter. WASHINGTON TRUST Co lifted 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 acquiring an additional 350 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at $52,000. 68.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AEM shares. Jefferies Financial Group raised 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. UBS Group assumed coverage on Agnico Eagle Mines in a research report on Tuesday. They issued a “buy” rating and a $95.00 target price for the company. TD Securities upped their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. CIBC increased their price objective on Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada lifted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.67.

Agnico Eagle Mines Stock Performance

AEM stock opened at $82.31 on Wednesday. The firm has a 50 day moving average of $77.47 and a two-hundred day moving average of $68.20. Agnico Eagle Mines Limited has a 12 month low of $43.22 and a 12 month high of $83.95. The company has a market capitalization of $41.18 billion, a price-to-earnings ratio of 86.62, a P/E/G ratio of 0.77 and a beta of 1.10. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. The company had revenue of $2.08 billion during 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 quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 3.65 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.