Agnico Eagle Mines Limited $AEM Shares Sold by Canoe Financial LP

Canoe Financial LP lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 49.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 356,830 shares of the mining company’s stock after selling 354,774 shares during the quarter. Canoe Financial LP owned 0.07% of Agnico Eagle Mines worth $72,405,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AEM. Acumen Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $26,000. Abound Wealth Management grew its holdings in Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after acquiring an additional 104 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Finally, Caitlin John LLC purchased a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $36,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AEM has been the topic of a number of analyst reports. UBS Group reduced their price objective on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. increased their target price on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Wall Street Zen upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, TD Securities lifted their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $236.08.

Agnico Eagle Mines Stock Up 0.0%

Shares of NYSE:AEM opened at $157.24 on Monday. The firm has a 50 day simple moving average of $180.30 and a 200-day simple moving average of $194.18. Agnico Eagle Mines Limited has a twelve month low of $114.60 and a twelve month high of $255.24. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $79.81 billion, a PE ratio of 14.78, a P/E/G ratio of 3.45 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating 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 firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the firm posted $1.53 EPS. The company’s revenue was up 66.1% on a year-over-year basis. On average, equities analysts predict that Agnico Eagle Mines Limited will post 13.2 EPS for the current fiscal year.

Agnico Eagle Mines 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.