Agnico Eagle Mines Limited $AEM Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC trimmed its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,617 shares of the mining company’s stock after selling 6,274 shares during the period. Beacon Pointe Advisors LLC’s holdings in Agnico Eagle Mines were worth $8,398,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ameritas Advisory Services LLC acquired a new stake in shares of Agnico Eagle Mines during the second quarter worth about $25,000. Cary Street Partners Investment Advisory LLC purchased a new position in Agnico Eagle Mines during the 1st quarter worth approximately $26,000. City State Bank increased its position in Agnico Eagle Mines by 69.2% during the second quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after buying an additional 110 shares during the period. Dagco Inc. acquired a new position in Agnico Eagle Mines during the first quarter worth approximately $39,000. Finally, Financial Network Wealth Advisors LLC lifted its stake in Agnico Eagle Mines by 412.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 369 shares of the mining company’s stock valued at $40,000 after buying an additional 297 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $169.70 on Wednesday. The stock has a market capitalization of $85.13 billion, a P/E ratio of 24.77, a P/E/G ratio of 0.63 and a beta of 0.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12. Agnico Eagle Mines Limited has a 1 year low of $76.91 and a 1 year high of $187.50. The company’s fifty day moving average is $166.42 and its two-hundred day moving average is $142.71.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AEM shares. Bank of America raised their target price on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research 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. TD Securities raised their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Citigroup lifted their price objective on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Five research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $185.50.

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.