Euro Pacific Asset Management LLC Decreases Stock Position in Agnico Eagle Mines Limited $AEM

Euro Pacific Asset Management LLC lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 447,528 shares of the mining company’s stock after selling 7,528 shares during the period. Agnico Eagle Mines accounts for 8.0% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its largest holding. Euro Pacific Asset Management LLC’s holdings in Agnico Eagle Mines were worth $84,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $1,367,783,000. Van ECK Associates Corp lifted its stake in shares of Agnico Eagle Mines by 21.6% during the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after buying an additional 3,062,705 shares in the last quarter. Alberta Investment Management Corp purchased a new position in shares of Agnico Eagle Mines during the 4th quarter valued at $194,195,000. Employees Provident Fund Board purchased a new position in shares of Agnico Eagle Mines during the 4th quarter valued at $183,341,000. Finally, Auto Owners Insurance Co boosted its holdings in Agnico Eagle Mines by 16,853.0% in the 4th quarter. Auto Owners Insurance Co now owns 915,462 shares of the mining company’s stock worth $15,520,000 after buying an additional 910,062 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Canadian Imperial Bank of Commerce set a $285.00 price target on Agnico Eagle Mines in a research note on Thursday. TD upped their price objective on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Citigroup reiterated a “positive” rating on shares of Agnico Eagle Mines in a research report on Wednesday. Bank of America decreased their target price on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada lowered their price target on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $233.62.

Agnico Eagle Mines Stock Performance

AEM opened at $136.89 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The stock has a market capitalization of $69.48 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.81 and a beta of 0.60. The company has a fifty day moving average of $165.41 and a 200 day moving average of $191.42. Agnico Eagle Mines Limited has a fifty-two week low of $117.65 and a fifty-two week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the company earned $1.53 EPS. The business’s quarterly revenue was up 66.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Agnico Eagle Mines Limited will post 12.39 earnings per share for the current fiscal 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.