National Bank of Canada FI Decreases Stake in Agnico Eagle Mines Limited (NYSE:AEM)

National Bank of Canada FI trimmed its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,869,784 shares of the mining company’s stock after selling 137,770 shares during the quarter. National Bank of Canada FI owned 0.77% of Agnico Eagle Mines worth $251,725,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. TD Asset Management Inc increased its stake in shares of Agnico Eagle Mines by 10.3% in the second quarter. TD Asset Management Inc now owns 5,852,648 shares of the mining company’s stock worth $382,720,000 after buying an additional 546,542 shares during the last quarter. JGP Global Gestao de Recursos Ltda. increased its position in shares of Agnico Eagle Mines by 72.6% in the 2nd quarter. JGP Global Gestao de Recursos Ltda. now owns 6,497 shares of the mining company’s stock worth $425,000 after purchasing an additional 2,732 shares during the last quarter. Strategy Asset Managers LLC acquired a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at about $520,000. Regal Partners Ltd lifted its position in shares of Agnico Eagle Mines by 16.8% during the second quarter. Regal Partners Ltd now owns 124,186 shares of the mining company’s stock worth $8,122,000 after purchasing an additional 17,843 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in Agnico Eagle Mines by 4.1% in the second quarter. CIBC Asset Management Inc now owns 6,083,606 shares of the mining company’s stock worth $397,657,000 after purchasing an additional 237,347 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Ratings Changes

AEM has been the topic of a number of research analyst reports. StockNews.com raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. TD Securities raised their price objective 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 stock a “hold” rating in a report on Friday, July 12th. CIBC boosted their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Scotiabank increased their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.86.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock traded up $0.62 during mid-day trading on Thursday, hitting $78.92. The company’s stock had a trading volume of 491,199 shares, compared to its average volume of 2,733,969. Agnico Eagle Mines Limited has a twelve month low of $43.22 and a twelve month high of $83.50. The stock’s fifty day moving average price is $75.45 and its two-hundred day moving average price is $66.31. The stock has a market capitalization of $39.48 billion, a P/E ratio of 82.42, a P/E/G ratio of 0.79 and a beta of 1.06. 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 posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. Research analysts forecast that Agnico Eagle Mines Limited will post 3.65 earnings per share for the current year.

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.