Bank of Nova Scotia Sells 201,326 Shares of Agnico Eagle Mines Limited $AEM

Bank of Nova Scotia cut its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,168,380 shares of the mining company’s stock after selling 201,326 shares during the period. Agnico Eagle Mines makes up 0.5% of Bank of Nova Scotia’s investment portfolio, making the stock its 29th biggest holding. Bank of Nova Scotia owned 0.43% of Agnico Eagle Mines worth $258,268,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after buying an additional 331 shares during the last quarter. US Bancorp DE raised its stake in shares of Agnico Eagle Mines by 2.0% in the 1st quarter. US Bancorp DE now owns 6,908 shares of the mining company’s stock valued at $749,000 after acquiring an additional 138 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Agnico Eagle Mines by 15.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,358 shares of the mining company’s stock valued at $1,448,000 after acquiring an additional 1,806 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in Agnico Eagle Mines in the 1st quarter worth approximately $257,000. Finally, Aigen Investment Management LP acquired a new position in Agnico Eagle Mines during the first quarter valued at approximately $200,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AEM shares. TD Securities boosted 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 note on Wednesday, October 8th. UBS Group raised their target price on shares of Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, December 1st. Weiss Ratings reissued a “buy (a-)” rating on shares of Agnico Eagle Mines in a research report on Tuesday, December 2nd. Citigroup upped their price target on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Raymond James Financial raised their price target on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Six research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Buy” and a consensus price target of $195.60.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $168.82 on Monday. Agnico Eagle Mines Limited has a 12 month low of $76.91 and a 12 month high of $187.50. The company has a market capitalization of $84.69 billion, a P/E ratio of 24.65, a P/E/G ratio of 0.61 and a beta of 0.64. The stock has a 50 day moving average of $166.98 and a two-hundred day moving average of $143.93. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.During the same period in the previous year, the business posted $1.14 earnings per share. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current 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.