Peapack Gladstone Financial Corp Cuts Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Peapack Gladstone Financial Corp lessened its holdings in Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,761 shares of the mining company’s stock after selling 500 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Agnico Eagle Mines were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Van ECK Associates Corp grew its stake in shares of Agnico Eagle Mines by 9.5% during the fourth quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock valued at $1,264,791,000 after buying an additional 1,995,127 shares during the last quarter. Vanguard Group Inc. lifted its position in Agnico Eagle Mines by 1.6% in the third quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock valued at $782,855,000 after purchasing an additional 278,647 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Agnico Eagle Mines by 0.4% during the fourth quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after purchasing an additional 41,068 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Agnico Eagle Mines by 8.6% during the third quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company’s stock valued at $383,555,000 after purchasing an additional 665,356 shares during the period. Finally, Norges Bank bought a new position in shares of Agnico Eagle Mines in the fourth quarter worth approximately $325,327,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Price Performance

AEM opened at $68.70 on Friday. Agnico Eagle Mines Limited has a 12-month low of $43.22 and a 12-month high of $71.50. The company has a market cap of $34.31 billion, a price-to-earnings ratio of 72.32, a price-to-earnings-growth ratio of 0.68 and a beta of 1.11. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $65.24 and a two-hundred day simple moving average of $56.47.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business earned $0.57 EPS. Agnico Eagle Mines’s quarterly revenue was up 21.2% compared to the same quarter last year. Research analysts predict that Agnico Eagle Mines Limited will post 3.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AEM. TD Securities increased their price target on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Jefferies Financial Group increased their target price on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Scotiabank boosted their price target on Agnico Eagle Mines from $71.00 to $81.00 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd. BMO Capital Markets increased their price objective on Agnico Eagle Mines from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, Citigroup boosted their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.22.

Check Out Our Latest Stock Report on Agnico Eagle Mines

Agnico Eagle Mines Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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