Employees Retirement System of Texas Lowers Stock Position in Agnico Eagle Mines Limited $AEM

Employees Retirement System of Texas reduced its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 20.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,471 shares of the mining company’s stock after selling 9,037 shares during the quarter. Employees Retirement System of Texas’ holdings in Agnico Eagle Mines were worth $5,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Expressive Wealth LLC bought a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $341,000. Williamson Legacy Group LLC grew its position in Agnico Eagle Mines by 16.5% during the fourth quarter. Williamson Legacy Group LLC now owns 14,875 shares of the mining company’s stock valued at $2,522,000 after acquiring an additional 2,109 shares during the last quarter. Cary Street Partners Financial LLC grew its position in Agnico Eagle Mines by 3.9% during the fourth quarter. Cary Street Partners Financial LLC now owns 2,013 shares of the mining company’s stock valued at $341,000 after acquiring an additional 75 shares during the last quarter. Themes Management Co LLC bought a new position in Agnico Eagle Mines during the fourth quarter valued at approximately $1,104,000. Finally, Harbour Investments Inc. grew its position in Agnico Eagle Mines by 16.3% during the fourth quarter. Harbour Investments Inc. now owns 4,049 shares of the mining company’s stock valued at $686,000 after acquiring an additional 568 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. TD Securities raised their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. TD raised their target price on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $174.98 on Thursday. The stock has a market cap of $87.57 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 3.94 and a beta of 0.58. The firm’s fifty day simple moving average is $195.87 and its 200 day simple moving average is $194.34. Agnico Eagle Mines Limited has a twelve month low of $114.60 and a twelve month high of $255.24. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The firm’s revenue for the quarter was up 66.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 earnings per share. As a group, research analysts predict that Agnico Eagle Mines Limited will post 13.14 EPS for the current year.

Agnico Eagle Mines Company 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.