Ontario Teachers Pension Plan Board Sells 8,755 Shares of Agnico Eagle Mines Limited $AEM

Ontario Teachers Pension Plan Board reduced its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 28.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,265 shares of the mining company’s stock after selling 8,755 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Agnico Eagle Mines were worth $2,654,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new position in Agnico Eagle Mines in the 2nd quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Agnico Eagle Mines in the first quarter worth about $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Agnico Eagle Mines in the first quarter worth about $26,000. City State Bank raised its stake in shares of 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 buying an additional 110 shares during the period. Finally, Dagco Inc. purchased a new position in shares of Agnico Eagle Mines during the 1st quarter valued at about $39,000. 68.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on AEM shares. Citigroup lifted their price target on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings raised shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday. CIBC increased their price target 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. UBS Group boosted their price objective on Agnico Eagle Mines from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Raymond James Financial increased their target price on Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Five equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $168.40 on Friday. The firm has a market capitalization of $84.47 billion, a PE ratio of 24.58, a PEG ratio of 0.70 and a beta of 0.45. The stock’s fifty day moving average is $163.52 and its 200 day moving average is $137.82. Agnico Eagle Mines Limited has a fifty-two week low of $76.38 and a fifty-two week high of $187.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

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.