Barings LLC Reduces Stock Position in Agnico Eagle Mines Limited $AEM

Barings LLC decreased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 33.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,029 shares of the mining company’s stock after selling 22,561 shares during the quarter. Barings LLC’s holdings in Agnico Eagle Mines were worth $5,368,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Agnico Eagle Mines by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,178,532 shares of the mining company’s stock valued at $140,135,000 after purchasing an additional 31,087 shares during the period. American Century Companies Inc. increased its stake in shares of Agnico Eagle Mines by 13.6% during the second quarter. American Century Companies Inc. now owns 838,027 shares of the mining company’s stock valued at $99,727,000 after buying an additional 100,006 shares during the period. Stevens Capital Management LP bought a new position in shares of Agnico Eagle Mines during the second quarter valued at approximately $231,000. Rhumbline Advisers lifted its stake in Agnico Eagle Mines by 8.0% in the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock worth $215,000 after acquiring an additional 134 shares during the period. Finally, AlphaCore Capital LLC boosted its holdings in Agnico Eagle Mines by 2.2% in the second quarter. AlphaCore Capital LLC now owns 12,503 shares of the mining company’s stock valued at $1,487,000 after acquiring an additional 271 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

AEM stock opened at $159.82 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The firm has a 50 day moving average price of $164.52 and a 200-day moving average price of $139.52. Agnico Eagle Mines Limited has a 52-week low of $76.91 and a 52-week high of $187.50. The firm has a market capitalization of $80.17 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 0.70 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the business posted $1.14 EPS. Equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on AEM. Bank of America upped their price objective on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. CIBC increased their price target on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Raymond James Financial increased their target price on Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, TD Securities lifted their price target on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Buy” and an average price target of $184.50.

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.