Agnico Eagle Mines Limited $AEM Shares Sold by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 19.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,646 shares of the mining company’s stock after selling 1,100 shares during the quarter. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Agnico Eagle Mines were worth $554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in Agnico Eagle Mines during the first quarter worth about $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in Agnico Eagle Mines in the first quarter worth about $26,000. City State Bank raised its position in Agnico Eagle Mines by 69.2% in the second quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after acquiring an additional 110 shares in the last quarter. Finally, Dagco Inc. acquired a new stake in Agnico Eagle Mines in the 1st quarter valued at about $39,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $161.28 on Friday. The company has a market capitalization of $81.04 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 0.70 and a beta of 0.45. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $187.50. 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 stock’s fifty day simple moving average is $161.41 and its 200-day simple moving average is $136.04.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the business earned $1.14 EPS. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AEM. Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (a)” rating to a “buy (b+)” rating in a report on Friday, October 24th. TD Securities lifted their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. UBS Group upped their price target on Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, CIBC raised their price objective on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Four research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $184.50.

Agnico Eagle Mines Company 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.