Essex Investment Management Co. LLC Decreases Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Essex Investment Management Co. LLC trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 46,437 shares of the mining company’s stock after selling 2,510 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Agnico Eagle Mines were worth $3,741,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AEM. Scarborough Advisors LLC bought a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $47,000. Integrated Advisors Network LLC boosted its stake in shares of Agnico Eagle Mines by 4.2% during the fourth quarter. Integrated Advisors Network LLC now owns 15,000 shares of the mining company’s stock valued at $823,000 after purchasing an additional 600 shares during the period. Creekmur Asset Management LLC bought a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $54,000. Vanguard Group Inc. lifted its holdings in Agnico Eagle Mines by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock valued at $963,320,000 after buying an additional 338,264 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in Agnico Eagle Mines by 0.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 184,254 shares of the mining company’s stock valued at $10,106,000 after buying an additional 1,328 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

AEM traded up $0.04 on Friday, reaching $79.46. 1,478,350 shares of the stock were exchanged, compared to its average volume of 2,672,182. 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 company’s 50-day moving average price is $79.93 and its 200 day moving average price is $71.62. The firm has a market capitalization of $39.75 billion, a PE ratio of 83.64, a PEG ratio of 0.71 and a beta of 1.10. Agnico Eagle Mines Limited has a fifty-two week low of $44.37 and a fifty-two week high of $85.14.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue was up 20.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Agnico Eagle Mines Limited will post 3.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AEM has been the topic of several research reports. BMO Capital Markets reduced their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Royal Bank of Canada raised their price objective on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. StockNews.com upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group boosted their price objective on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, UBS Group began coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.78.

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.