Wynnefield Capital Inc. Decreases Stock Holdings in Agnico Eagle Mines Limited $AEM

Wynnefield Capital Inc. lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 44.4% in the second quarter, HoldingsChannel.com reports. The firm owned 99,991 shares of the mining company’s stock after selling 80,009 shares during the quarter. Agnico Eagle Mines comprises 7.0% of Wynnefield Capital Inc.’s investment portfolio, making the stock its 5th largest position. Wynnefield Capital Inc.’s holdings in Agnico Eagle Mines were worth $11,892,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. DAVENPORT & Co LLC acquired a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at $226,000. Bank of New York Mellon Corp lifted its position in Agnico Eagle Mines by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company’s stock valued at $52,613,000 after purchasing an additional 5,717 shares during the period. Private Trust Co. NA boosted its stake in shares of Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock valued at $31,000 after purchasing an additional 232 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines during the first quarter worth approximately $34,000. Finally, OneDigital Investment Advisors LLC acquired a new position in Agnico Eagle Mines in the first quarter valued at approximately $234,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on AEM. UBS Group upped their target price on shares of Agnico Eagle Mines from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, September 19th. Royal Bank Of Canada increased their price target on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. TD Securities upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Thursday, July 17th. Lake Street Capital reiterated a “buy” rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Finally, Raymond James Financial upgraded Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 target price on the stock in a report on Monday, June 30th. Five investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Buy” and an average price target of $141.40.

Agnico Eagle Mines Stock Down 2.6%

Shares of AEM stock opened at $158.10 on Thursday. Agnico Eagle Mines Limited has a 1 year low of $75.17 and a 1 year high of $164.64. The firm has a market capitalization of $79.49 billion, a P/E ratio of 26.89, a PEG ratio of 1.09 and a beta of 0.45. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average price is $139.40 and its two-hundred day moving average price is $122.97.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the firm posted $1.07 EPS. The company’s quarterly revenue was up 35.6% on a year-over-year basis. On average, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.