Profund Advisors LLC Cuts Position in Agnico Eagle Mines Limited (NYSE:AEM)

Profund Advisors LLC cut its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,747 shares of the mining company’s stock after selling 5,399 shares during the period. Profund Advisors LLC’s holdings in Agnico Eagle Mines were worth $2,469,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Continuum Advisory LLC boosted its position in Agnico Eagle Mines by 1,134.4% during the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after buying an additional 363 shares during the period. Stephens Consulting LLC purchased a new stake in Agnico Eagle Mines during the first quarter valued at about $30,000. Janiczek Wealth Management LLC boosted its position in Agnico Eagle Mines by 406.4% during the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after buying an additional 569 shares during the period. WASHINGTON TRUST Co boosted its position in Agnico Eagle Mines by 92.1% during the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after buying an additional 350 shares during the period. Finally, ORG Partners LLC purchased a new stake in Agnico Eagle Mines during the second quarter valued at about $52,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $83.13 on Monday. Agnico Eagle Mines Limited has a fifty-two week low of $43.22 and a fifty-two week high of $84.65. The company has a 50 day simple moving average of $78.17 and a two-hundred day simple moving average of $69.05. The company has a market capitalization of $41.59 billion, a price-to-earnings ratio of 87.51, a P/E/G ratio of 0.77 and a beta of 1.10. 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 announced its earnings results 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. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm earned $0.65 earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. Analysts expect that Agnico Eagle Mines Limited will post 3.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. CIBC upped their price target on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. StockNews.com upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. TD Securities upped their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Scotiabank upped their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, July 12th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.67.

Agnico Eagle Mines Company 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.