Mcrae Capital Management Inc. Decreases Holdings in Agnico Eagle Mines Limited $AEM

Mcrae Capital Management Inc. reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,000 shares of the mining company’s stock after selling 1,000 shares during the quarter. Mcrae Capital Management Inc.’s holdings in Agnico Eagle Mines were worth $833,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Agnico Eagle Mines during the first quarter worth about $26,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Agnico Eagle Mines during the first quarter valued at about $26,000. Private Trust Co. NA raised its position 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. Finally, City State Bank boosted its stake in Agnico Eagle Mines by 69.2% in the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after purchasing an additional 110 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AEM has been the topic of a number of recent analyst reports. TD Securities upped their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Citigroup upped their target price on Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. CIBC increased their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Finally, Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $184.50.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $159.58 on Friday. Agnico Eagle Mines Limited has a 52-week low of $75.17 and a 52-week high of $187.50. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The stock has a market cap of $80.18 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 0.70 and a beta of 0.45. The business has a 50-day simple moving average of $161.07 and a 200-day simple moving average of $135.67.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period last year, the business earned $1.14 earnings per share. On average, equities analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current 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.