Rathbones Group PLC Sells 8,550 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Rathbones Group PLC cut its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 87,047 shares of the mining company’s stock after selling 8,550 shares during the period. Rathbones Group PLC’s holdings in Agnico Eagle Mines were worth $5,692,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Financial Sense Advisors Inc. boosted its position in Agnico Eagle Mines by 372.3% in the first quarter. Financial Sense Advisors Inc. now owns 62,330 shares of the mining company’s stock worth $3,718,000 after purchasing an additional 49,132 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Agnico Eagle Mines during the 4th quarter worth $2,297,000. Manning & Napier Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter worth about $2,595,000. FIL Ltd grew its position in Agnico Eagle Mines by 16.4% during the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after buying an additional 2,831,794 shares during the period. Finally, Crestline Management LP increased its holdings in Agnico Eagle Mines by 28.8% during the fourth quarter. Crestline Management LP now owns 180,891 shares of the mining company’s stock worth $9,922,000 after buying an additional 40,483 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 $83.17 on Monday. Agnico Eagle Mines Limited has a 52-week low of $43.22 and a 52-week high of $83.95. The stock’s 50-day simple moving average is $77.21 and its 200 day simple moving average is $67.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. The stock has a market capitalization of $41.65 billion, a price-to-earnings ratio of 87.55, a price-to-earnings-growth ratio of 0.77 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share. Research analysts forecast that Agnico Eagle Mines Limited will post 3.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AEM. Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. TD Securities increased their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. CIBC boosted their target price on Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. StockNews.com upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Finally, BMO Capital Markets decreased their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.38.

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.