Renaissance Technologies LLC Reduces Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Renaissance Technologies LLC lessened its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 90.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 35,984 shares of the mining company’s stock after selling 340,191 shares during the period. Renaissance Technologies LLC’s holdings in Agnico Eagle Mines were worth $2,353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. FIL Ltd increased its stake in shares of Agnico Eagle Mines by 16.4% during the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after purchasing an additional 2,831,794 shares in the last quarter. Capital World Investors grew its holdings in Agnico Eagle Mines by 12.0% during the 4th quarter. Capital World Investors now owns 9,690,000 shares of the mining company’s stock valued at $531,284,000 after buying an additional 1,034,721 shares during the last quarter. TD Asset Management Inc increased its position in Agnico Eagle Mines by 24.1% during the first quarter. TD Asset Management Inc now owns 5,306,106 shares of the mining company’s stock worth $316,700,000 after buying an additional 1,031,142 shares in the last quarter. Capital Wealth Planning LLC raised its holdings in shares of Agnico Eagle Mines by 62.3% in the first quarter. Capital Wealth Planning LLC now owns 2,620,345 shares of the mining company’s stock worth $156,304,000 after acquiring an additional 1,006,001 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Agnico Eagle Mines by 27.9% in the first quarter. National Bank of Canada FI now owns 4,007,554 shares of the mining company’s stock valued at $239,051,000 after acquiring an additional 874,920 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 1.6 %

NYSE AEM opened at $81.85 on Wednesday. Agnico Eagle Mines Limited has a 12 month low of $43.22 and a 12 month high of $85.14. The company has a market capitalization of $40.95 billion, a P/E ratio of 86.16, a PEG ratio of 0.78 and a beta of 1.10. The company’s 50 day simple moving average is $79.24 and its 200 day simple moving average is $70.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76.

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

Wall Street Analysts Forecast Growth

AEM has been the topic of several analyst reports. Scotiabank raised their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a report on Friday, July 12th. StockNews.com raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. BMO Capital Markets decreased their target price on shares of 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. Finally, TD Securities boosted their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.