Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 493,039 shares of the mining company’s stock after selling 11,945 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.10% of Agnico Eagle Mines worth $32,245,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Agnico Eagle Mines during the 4th quarter worth $325,327,000. FIL Ltd grew its holdings in shares of Agnico Eagle Mines by 16.4% during the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after buying an additional 2,831,794 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth about $132,257,000. Capital Wealth Planning LLC acquired a new position in Agnico Eagle Mines in the 4th quarter valued at about $88,547,000. Finally, TD Asset Management Inc raised its stake in Agnico Eagle Mines by 41.9% during the 4th quarter. TD Asset Management Inc now owns 4,274,964 shares of the mining company’s stock valued at $235,535,000 after acquiring an additional 1,261,482 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Scotiabank boosted their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. CIBC upped their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. TD Securities lifted 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. BMO Capital Markets cut their price target on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Finally, Jefferies Financial Group lifted their price objective on Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a report on Friday, July 12th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.86.

Agnico Eagle Mines Trading Down 3.1 %

Shares of Agnico Eagle Mines stock opened at $78.98 on Wednesday. The company has a 50-day moving average of $75.19 and a two-hundred day moving average of $66.22. Agnico Eagle Mines Limited has a 12-month low of $43.22 and a 12-month high of $83.50. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The stock has a market cap of $39.51 billion, a PE ratio of 83.14, a price-to-earnings-growth ratio of 0.79 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, research analysts anticipate that Agnico Eagle Mines Limited will post 3.65 EPS for the current fiscal year.

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.