Keating Investment Counselors Inc. Sells 8,080 Shares of Agnico Eagle Mines Limited $AEM

Keating Investment Counselors Inc. lowered its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.4% in the third quarter, HoldingsChannel.com reports. The fund owned 100,936 shares of the mining company’s stock after selling 8,080 shares during the quarter. Agnico Eagle Mines comprises about 4.9% of Keating Investment Counselors Inc.’s investment portfolio, making the stock its 4th biggest holding. Keating Investment Counselors Inc.’s holdings in Agnico Eagle Mines were worth $17,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of AEM. GWN Securities Inc. increased its stake in shares of Agnico Eagle Mines by 35.9% during the 3rd quarter. GWN Securities Inc. now owns 3,341 shares of the mining company’s stock worth $565,000 after purchasing an additional 882 shares in the last quarter. Fractal Investments LLC grew its holdings in Agnico Eagle Mines by 45.3% during the 3rd quarter. Fractal Investments LLC now owns 4,809 shares of the mining company’s stock valued at $811,000 after buying an additional 1,500 shares during the last quarter. PKO Investment Management Joint Stock Co increased its position in Agnico Eagle Mines by 6.9% during the third quarter. PKO Investment Management Joint Stock Co now owns 169,878 shares of the mining company’s stock worth $28,627,000 after buying an additional 10,900 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Agnico Eagle Mines by 75.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 45,757 shares of the mining company’s stock worth $7,713,000 after acquiring an additional 19,695 shares during the last quarter. Finally, Elite Wealth Management Inc. purchased a new stake in shares of Agnico Eagle Mines in the third quarter valued at $4,568,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on AEM shares. Bank of America lifted their price objective on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Royal Bank Of Canada cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $185.00 to $205.00 in a research note on Wednesday, December 10th. TD Securities boosted their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Raymond James Financial raised their target price on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Five investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $201.60.

Agnico Eagle Mines Trading Up 2.3%

NYSE AEM opened at $198.89 on Wednesday. The company has a market cap of $99.58 billion, a P/E ratio of 29.03, a P/E/G ratio of 0.60 and a beta of 0.63. Agnico Eagle Mines Limited has a 12 month low of $81.96 and a 12 month high of $200.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. The company has a 50-day moving average of $171.90 and a 200-day moving average of $154.49.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.