CIBC Asset Management Inc Sells 1,015,705 Shares of Agnico Eagle Mines Limited $AEM

CIBC Asset Management Inc lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 16.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,011,122 shares of the mining company’s stock after selling 1,015,705 shares during the quarter. Agnico Eagle Mines comprises about 2.4% of CIBC Asset Management Inc’s holdings, making the stock its 8th largest holding. CIBC Asset Management Inc owned approximately 1.00% of Agnico Eagle Mines worth $845,069,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Ameritas Advisory Services LLC acquired a new stake in Agnico Eagle Mines during the 2nd quarter valued at $25,000. True Wealth Design LLC boosted its position in Agnico Eagle Mines by 381.3% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the second quarter valued at about $29,000. City State Bank grew its stake in shares of Agnico Eagle Mines by 69.2% during the second quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after acquiring an additional 110 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its position in shares of Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $214.52 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. Agnico Eagle Mines Limited has a 12 month low of $87.45 and a 12 month high of $215.95. The company has a fifty day moving average price of $178.06 and a two-hundred day moving average price of $159.01. The company has a market cap of $107.40 billion, a PE ratio of 31.32, a P/E/G ratio of 0.62 and a beta of 0.63.

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, topping analysts’ consensus estimates 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 company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the prior year, the company earned $1.14 earnings per share. Research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AEM shares. Wall Street Zen raised Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. Raymond James Financial reiterated an “outperform” rating and set a $225.00 target price on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Jefferies Financial Group set a $189.00 price target on shares of Agnico Eagle Mines in a report on Sunday, December 7th. Finally, Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Five investment 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $211.70.

About Agnico Eagle Mines

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.