Aigen Investment Management LP Cuts Position in Agnico Eagle Mines Limited $AEM

Aigen Investment Management LP lessened its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 57.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,170 shares of the mining company’s stock after selling 4,354 shares during the quarter. Aigen Investment Management LP’s holdings in Agnico Eagle Mines were worth $537,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Salvus Wealth Management LLC grew its holdings in Agnico Eagle Mines by 0.9% during the 4th quarter. Salvus Wealth Management LLC now owns 6,301 shares of the mining company’s stock valued at $1,068,000 after buying an additional 57 shares in the last quarter. Brookwood Investment Group LLC grew its holdings in Agnico Eagle Mines by 4.5% during the 4th quarter. Brookwood Investment Group LLC now owns 1,361 shares of the mining company’s stock valued at $231,000 after buying an additional 58 shares in the last quarter. Baron Wealth Management LLC grew its holdings in Agnico Eagle Mines by 3.2% during the 4th quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company’s stock valued at $319,000 after buying an additional 59 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Agnico Eagle Mines by 1.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock valued at $893,000 after buying an additional 59 shares in the last quarter. Finally, Baker Ellis Asset Management LLC grew its holdings in Agnico Eagle Mines by 0.8% during the 4th quarter. Baker Ellis Asset Management LLC now owns 7,550 shares of the mining company’s stock valued at $1,280,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $171.68 on Tuesday. Agnico Eagle Mines Limited has a 52-week low of $114.60 and a 52-week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The firm has a market capitalization of $85.92 billion, a P/E ratio of 16.14, a P/E/G ratio of 3.57 and a beta of 0.56. The stock has a 50 day moving average price of $189.34 and a 200 day moving average price of $194.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the company earned $1.53 EPS. Agnico Eagle Mines’s quarterly revenue was up 66.1% compared to the same quarter last year. As a group, sell-side analysts predict that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current year.

Analysts Set New Price Targets

AEM has been the subject of several research analyst reports. Erste Group Bank cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Wall Street Zen lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Barclays initiated coverage on Agnico Eagle Mines in a research note on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $236.08.

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.