Beutel Goodman & Co Ltd. Sells 7,311 Shares of Agnico Eagle Mines Limited $AEM

Beutel Goodman & Co Ltd. cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 13.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 46,070 shares of the mining company’s stock after selling 7,311 shares during the quarter. Beutel Goodman & Co Ltd.’s holdings in Agnico Eagle Mines were worth $5,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after buying an additional 331 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Agnico Eagle Mines during the first quarter worth $412,000. US Bancorp DE lifted its position in shares of Agnico Eagle Mines by 2.0% during the first quarter. US Bancorp DE now owns 6,908 shares of the mining company’s stock worth $749,000 after acquiring an additional 138 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Agnico Eagle Mines by 15.6% in the first quarter. PNC Financial Services Group Inc. now owns 13,358 shares of the mining company’s stock worth $1,448,000 after acquiring an additional 1,806 shares during the period. Finally, Cary Street Partners Financial LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter valued at $257,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 1.5%

AEM stock opened at $171.65 on Friday. Agnico Eagle Mines Limited has a one year low of $76.91 and a one year high of $187.50. The company has a market capitalization of $86.11 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 0.62 and a beta of 0.64. The company’s 50 day moving average price is $166.88 and its two-hundred day moving average price is $143.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12.

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. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the business posted $1.14 earnings per share. As a group, analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AEM has been the subject of several analyst reports. Bank of America raised their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Wall Street Zen downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 30th. Citigroup increased their target price on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Finally, UBS Group lifted their price objective on Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday. Five research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $185.50.

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.