Heathbridge Capital Management Ltd. Reduces Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Heathbridge Capital Management Ltd. lessened its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.1% during the 3rd quarter, Holdings Channel reports. The fund owned 250,800 shares of the mining company’s stock after selling 2,750 shares during the period. Agnico Eagle Mines comprises approximately 7.7% of Heathbridge Capital Management Ltd.’s holdings, making the stock its 4th largest position. Heathbridge Capital Management Ltd.’s holdings in Agnico Eagle Mines were worth $20,203,000 as of its most recent filing with the Securities and Exchange Commission.

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

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $82.21 on Friday. The stock has a 50-day simple moving average of $80.58 and a two-hundred day simple moving average of $72.15. The firm has a market capitalization of $41.13 billion, a P/E ratio of 86.54, 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. 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 (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The company’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 3.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AEM shares. Royal Bank of Canada raised their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. BMO Capital Markets reduced their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. Jefferies Financial Group raised their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Scotiabank raised their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, CIBC raised their target price 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. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average price target of $86.78.

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.