Cetera Investment Advisers Trims Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Cetera Investment Advisers lessened its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 38,531 shares of the mining company’s stock after selling 3,664 shares during the quarter. Cetera Investment Advisers’ holdings in Agnico Eagle Mines were worth $2,520,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Agnico Eagle Mines by 0.3% during the 2nd quarter. Van ECK Associates Corp now owns 22,320,085 shares of the mining company’s stock worth $1,459,741,000 after purchasing an additional 58,681 shares during the period. Vanguard Group Inc. grew its stake in shares of Agnico Eagle Mines by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock valued at $963,320,000 after buying an additional 338,264 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Agnico Eagle Mines by 1.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company’s stock valued at $868,638,000 after buying an additional 134,872 shares during the period. Capital World Investors lifted its stake in Agnico Eagle Mines by 0.8% during the 1st quarter. Capital World Investors now owns 9,769,275 shares of the mining company’s stock worth $582,529,000 after acquiring an additional 79,275 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Agnico Eagle Mines by 10.8% during the 1st quarter. First Eagle Investment Management LLC now owns 6,891,385 shares of the mining company’s stock valued at $411,106,000 after acquiring an additional 672,503 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Up 0.1 %

Agnico Eagle Mines stock opened at $79.46 on Friday. The stock’s fifty day moving average is $79.93 and its two-hundred day moving average is $71.62. The stock has a market cap of $39.75 billion, a PE ratio of 83.64, a P/E/G ratio of 0.71 and a beta of 1.10. Agnico Eagle Mines Limited has a 1-year low of $44.37 and a 1-year high of $85.14. 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 posted its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.14. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The firm’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. On average, sell-side analysts expect that Agnico Eagle Mines Limited will post 3.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Scotiabank increased their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group raised their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. BMO Capital Markets cut their price objective 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. UBS Group began coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price for the company. Finally, Royal Bank of Canada upped their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.78.

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.