Intact Investment Management Inc. Sells 28,230 Shares of Agnico Eagle Mines Limited $AEM

Intact Investment Management Inc. reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,620 shares of the mining company’s stock after selling 28,230 shares during the quarter. Agnico Eagle Mines accounts for 1.1% of Intact Investment Management Inc.’s portfolio, making the stock its 26th largest position. Intact Investment Management Inc.’s holdings in Agnico Eagle Mines were worth $34,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Agnico Eagle Mines by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,417,906 shares of the mining company’s stock worth $2,432,603,000 after purchasing an additional 614,437 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Agnico Eagle Mines by 5.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock worth $1,974,242,000 after buying an additional 602,489 shares during the last quarter. TD Asset Management Inc grew its stake in Agnico Eagle Mines by 3.6% during the second quarter. TD Asset Management Inc now owns 9,356,548 shares of the mining company’s stock worth $1,112,500,000 after buying an additional 323,252 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Agnico Eagle Mines by 1.9% during the second quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock worth $1,046,468,000 after buying an additional 160,650 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Agnico Eagle Mines by 38.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after acquiring an additional 2,319,131 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 0.4%

AEM stock opened at $214.52 on Monday. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a twelve month low of $87.45 and a twelve month high of $215.95. The company has a market cap of $107.40 billion, a P/E ratio of 31.32, a PEG ratio of 0.62 and a beta of 0.63. The business has a fifty day moving average of $178.06 and a 200-day moving average of $159.30.

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 (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business earned $1.14 earnings per share. As a group, equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AEM shares. Royal Bank Of Canada lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $185.00 to $205.00 in a research report on Wednesday, December 10th. UBS Group raised their target price on Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, December 1st. CIBC lifted their price target on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 4th. Finally, Jefferies Financial Group set a $189.00 price objective on shares of Agnico Eagle Mines in a report on Sunday, December 7th. Five research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $211.70.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.