Agnico Eagle Mines Limited $AEM Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 53.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 16,811 shares of the mining company’s stock after selling 18,951 shares during the period. Assenagon Asset Management S.A.’s holdings in Agnico Eagle Mines were worth $3,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AEM. Norges Bank acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $1,367,783,000. Capital World Investors boosted its stake in Agnico Eagle Mines by 20.0% during the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after buying an additional 3,462,968 shares during the period. Van ECK Associates Corp boosted its stake in Agnico Eagle Mines by 21.6% during 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 buying an additional 3,062,705 shares during the period. Alberta Investment Management Corp acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at about $194,195,000. Finally, Employees Provident Fund Board acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter valued at about $183,341,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AEM shares. UBS Group decreased their price objective on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a report on Tuesday. TD Securities lifted their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, JPMorgan Chase & Co. raised their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $232.75.

Agnico Eagle Mines Trading Up 0.9%

Shares of AEM stock opened at $155.09 on Wednesday. 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 stock has a market capitalization of $78.71 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 3.38 and a beta of 0.56. The company has a 50 day moving average price of $177.76 and a 200 day moving average price of $194.03. Agnico Eagle Mines Limited has a fifty-two week low of $115.19 and a fifty-two week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its 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 net margin of 39.46% and a return on equity of 21.09%. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the business earned $1.53 EPS. The firm’s quarterly revenue was up 66.1% on a year-over-year basis. Equities research analysts predict that Agnico Eagle Mines Limited will post 13.2 EPS for the current fiscal year.

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.