Rhumbline Advisers Lowers Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Rhumbline Advisers trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 23.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,909 shares of the mining company’s stock after selling 570 shares during the period. Rhumbline Advisers’ holdings in Agnico Eagle Mines were worth $125,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Agnico Eagle Mines by 2.2% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock worth $472,000 after buying an additional 158 shares during the period. Banque Cantonale Vaudoise boosted its holdings in Agnico Eagle Mines by 2.8% in the first quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock valued at $369,000 after purchasing an additional 169 shares during the period. Azzad Asset Management Inc. ADV boosted its holdings in Agnico Eagle Mines by 0.3% in the second quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock valued at $4,043,000 after purchasing an additional 189 shares during the period. Baader Bank Aktiengesellschaft boosted its holdings in Agnico Eagle Mines by 4.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock valued at $269,000 after purchasing an additional 192 shares during the period. Finally, Gulf International Bank UK Ltd boosted its holdings in Agnico Eagle Mines by 4.7% in the first quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock valued at $300,000 after purchasing an additional 226 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on AEM. TD Securities raised their price target on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Royal Bank of Canada raised their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. UBS Group started coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price on the stock. Finally, BMO Capital Markets cut their target price on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.67.

Agnico Eagle Mines Trading Down 1.5 %

NYSE AEM opened at $80.56 on Tuesday. The company’s fifty day simple moving average is $79.11 and its 200-day simple moving average is $70.22. Agnico Eagle Mines Limited has a 52 week low of $43.22 and a 52 week high of $85.14. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The stock has a market cap of $40.30 billion, a P/E ratio of 84.80, a PEG ratio of 0.78 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 earnings per share. Equities research analysts predict that Agnico Eagle Mines Limited will post 3.73 EPS for the current fiscal year.

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.