Benson Investment Management Company Inc. Has $5.25 Million Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Benson Investment Management Company Inc. reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 14.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 65,166 shares of the mining company’s stock after selling 10,677 shares during the period. Agnico Eagle Mines comprises approximately 2.1% of Benson Investment Management Company Inc.’s portfolio, making the stock its 24th biggest position. Benson Investment Management Company Inc.’s holdings in Agnico Eagle Mines were worth $5,250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AEM. Sapient Capital LLC grew its position in Agnico Eagle Mines by 1.3% in the 3rd quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock worth $886,000 after purchasing an additional 145 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased 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 valued at $472,000 after acquiring an additional 158 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in Agnico Eagle Mines by 2.8% during the first quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock worth $369,000 after acquiring an additional 169 shares during the period. Azzad Asset Management Inc. ADV boosted its position 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 worth $4,043,000 after purchasing an additional 189 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd grew its stake in Agnico Eagle Mines by 0.4% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company’s stock valued at $3,248,000 after purchasing an additional 190 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 0.5 %

NYSE:AEM opened at $79.83 on Tuesday. Agnico Eagle Mines Limited has a 1 year low of $44.37 and a 1 year high of $85.14. The stock’s fifty day moving average price is $80.06 and its two-hundred day moving average price is $71.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76. The company has a market cap of $39.94 billion, a P/E ratio of 84.03, a P/E/G ratio of 0.71 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share (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 return on equity of 7.16% and a net margin of 8.44%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, analysts expect that Agnico Eagle Mines Limited will post 3.88 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AEM. Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Scotiabank increased their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. UBS Group assumed coverage on shares of Agnico Eagle Mines in a report on Tuesday, September 17th. They issued a “buy” rating and a $95.00 price target on the stock. CIBC upped their price objective on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada raised their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research 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 stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average target price of $86.78.

Agnico Eagle Mines 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.