Alberta Investment Management Corp Sells 23,800 Shares of Agnico Eagle Mines Limited $AEM

Alberta Investment Management Corp lessened its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 1,145,114 shares of the mining company’s stock after selling 23,800 shares during the period. Agnico Eagle Mines accounts for 1.0% of Alberta Investment Management Corp’s investment portfolio, making the stock its 8th largest holding. Alberta Investment Management Corp’s holdings in Agnico Eagle Mines were worth $194,195,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Capital World Investors raised its holdings in shares of Agnico Eagle Mines by 2.8% during the fourth quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock valued at $3,618,730,000 after acquiring an additional 572,473 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Agnico Eagle Mines by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock valued at $3,557,772,000 after acquiring an additional 309,717 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after acquiring an additional 3,062,705 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Agnico Eagle Mines by 1.7% in the fourth quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock worth $1,641,239,000 after acquiring an additional 165,263 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Agnico Eagle Mines by 4.0% in the fourth quarter. Mackenzie Financial Corp now owns 8,687,624 shares of the mining company’s stock worth $1,489,509,000 after acquiring an additional 332,797 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 3.7%

Shares of AEM stock opened at $166.63 on Friday. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a twelve month low of $114.60 and a twelve month high of $255.24. The company’s 50-day moving average price is $187.13 and its 200-day moving average price is $194.57. The stock has a market cap of $84.58 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 3.80 and a beta of 0.56.

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

Analyst Ratings Changes

AEM has been the subject of several recent research reports. Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Barclays began coverage on shares of Agnico Eagle Mines in a research note on Thursday, May 21st. They set an “overweight” rating and a $213.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Finally, TD raised their price target on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. One 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 company. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus 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.