Axa S.A. Reduces Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Axa S.A. trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 40.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,012 shares of the mining company’s stock after selling 237,475 shares during the quarter. Axa S.A. owned about 0.07% of Agnico Eagle Mines worth $23,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Van ECK Associates Corp increased its stake in shares of Agnico Eagle Mines by 0.3% in 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 acquiring an additional 58,681 shares in the last quarter. FIL Ltd increased its stake in shares of Agnico Eagle Mines by 16.4% in the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock worth $1,102,481,000 after acquiring an additional 2,831,794 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Agnico Eagle Mines by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 17,562,802 shares of the mining company’s stock worth $963,320,000 after acquiring an additional 338,264 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake 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 worth $868,638,000 after acquiring an additional 134,872 shares in the last quarter. Finally, Capital World Investors increased its stake in shares of Agnico Eagle Mines by 0.8% in 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. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $84.08 on Friday. The company has a 50 day moving average price of $78.84 and a 200-day moving average price of $69.66. Agnico Eagle Mines Limited has a 52 week low of $43.22 and a 52 week high of $85.14. The firm has a market capitalization of $42.06 billion, a PE ratio of 88.51, a P/E/G ratio of 0.78 and a beta of 1.10. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06.

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, topping analysts’ consensus estimates of $0.93 by $0.14. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. As a group, equities research analysts expect that Agnico Eagle Mines Limited will post 3.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AEM. StockNews.com upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Royal Bank of Canada raised their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. UBS Group initiated coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 price objective for the company. TD Securities raised their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, July 12th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $84.67.

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.