Accordant Advisory Group Inc Sells 17,658 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Accordant Advisory Group Inc reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 51.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 16,657 shares of the mining company’s stock after selling 17,658 shares during the period. Agnico Eagle Mines comprises approximately 1.1% of Accordant Advisory Group Inc’s portfolio, making the stock its 28th biggest position. Accordant Advisory Group Inc’s holdings in Agnico Eagle Mines were worth $1,342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Assets Advisory LLC purchased a new stake in Agnico Eagle Mines in the 1st quarter valued at $2,691,000. Sunbelt Securities Inc. purchased a new stake in shares of Agnico Eagle Mines in the first quarter valued at about $66,000. GoalVest Advisory LLC purchased a new stake in shares of Agnico Eagle Mines in the first quarter valued at about $57,000. St. Johns Investment Management Company LLC bought a new position in shares of Agnico Eagle Mines during the first quarter valued at about $54,000. Finally, Wealthcare Advisory Partners LLC purchased a new position in Agnico Eagle Mines during the first quarter worth about $426,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AEM has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Scotiabank boosted their price objective on Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Royal Bank of Canada raised their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. TD Securities boosted their price target on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.78.

Agnico Eagle Mines Stock Up 1.6 %

AEM opened at $87.99 on Wednesday. Agnico Eagle Mines Limited has a 12 month low of $44.37 and a 12 month high of $88.22. The company has a market cap of $44.02 billion, a PE ratio of 92.62, a price-to-earnings-growth ratio of 0.71 and a beta of 1.10. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $81.02 and a 200 day moving average of $72.67.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, sell-side analysts expect that Agnico Eagle Mines Limited will post 3.88 EPS for the current year.

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.