Agnico Eagle Mines Limited $AEM Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.0% in the 2nd quarter, Holdings Channel reports. The firm owned 3,524,193 shares of the mining company’s stock after selling 145,706 shares during the quarter. Agnico Eagle Mines accounts for about 1.5% of TD Waterhouse Canada Inc.’s portfolio, making the stock its 18th largest position. TD Waterhouse Canada Inc.’s holdings in Agnico Eagle Mines were worth $546,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC acquired a new position in Agnico Eagle Mines during the fourth quarter worth about $26,000. Dunhill Financial LLC purchased a new stake in Agnico Eagle Mines during the 2nd quarter valued at about $31,000. Fiduciary Financial Advisors acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at about $32,000. Jessup Wealth Management Inc acquired a new stake in Agnico Eagle Mines in the 4th quarter valued at about $35,000. Finally, Allied Private Wealth LLC acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $207.24 on Friday. The company’s 50-day moving average is $168.77 and its two-hundred day moving average is $186.93. Agnico Eagle Mines Limited has a 1-year low of $134.38 and a 1-year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The firm has a market capitalization of $105.05 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 2.45 and a beta of 0.67.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.16. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The business’s revenue was up 35.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 EPS. Analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AEM. Zacks Research cut Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Citigroup cut their price target on Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating for the company in a report on Monday, July 27th. Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Bank of America lowered their price objective 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, Barclays dropped their target price on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $226.00.

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.