Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Canoe Financial LP

Canoe Financial LP trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.0% during the third quarter, HoldingsChannel.com reports. The firm owned 1,993,016 shares of the mining company’s stock after selling 105,145 shares during the quarter. Agnico Eagle Mines accounts for approximately 3.9% of Canoe Financial LP’s investment portfolio, making the stock its 4th biggest holding. Canoe Financial LP’s holdings in Agnico Eagle Mines were worth $163,139,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Financial Sense Advisors Inc. lifted its holdings in shares of Agnico Eagle Mines by 372.3% in the first quarter. Financial Sense Advisors Inc. now owns 62,330 shares of the mining company’s stock valued at $3,718,000 after purchasing an additional 49,132 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Agnico Eagle Mines during the second quarter worth about $2,595,000. Capital Wealth Planning LLC raised its holdings in Agnico Eagle Mines by 62.3% during 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 in the last quarter. Principal Financial Group Inc. bought a new stake in Agnico Eagle Mines during the first quarter worth about $1,388,000. Finally, GSA Capital Partners LLP bought a new stake in Agnico Eagle Mines during the first quarter worth about $878,000. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AEM. UBS Group began coverage on Agnico Eagle Mines in a report on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price on the stock. TD Securities upped their target price on Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Scotiabank upped their price objective on 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, Royal Bank of Canada upped their price objective 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Trading Down 1.2 %

Shares of NYSE:AEM opened at $86.88 on Monday. The company has a market capitalization of $43.46 billion, a P/E ratio of 91.45, 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 $89.00. 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 business’s 50 day simple moving average is $81.78 and its 200 day simple moving average is $73.41.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, beating 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 company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company earned $0.65 EPS. Agnico Eagle Mines’s revenue was up 20.9% compared to the same quarter last year. On average, research analysts anticipate that Agnico Eagle Mines Limited will post 3.88 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.