Agnico Eagle Mines Limited $AEM is Stack Financial Management Inc’s 7th Largest Position

Stack Financial Management Inc cut its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 253,516 shares of the mining company’s stock after selling 3,435 shares during the period. Agnico Eagle Mines makes up 3.5% of Stack Financial Management Inc’s investment portfolio, making the stock its 7th largest position. Stack Financial Management Inc’s holdings in Agnico Eagle Mines were worth $42,733,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEM. Pure Portfolios Holdings LLC lifted its position in Agnico Eagle Mines by 1.6% during the third quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company’s stock valued at $637,000 after buying an additional 60 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of Agnico Eagle Mines by 1.2% during the 3rd quarter. HB Wealth Management LLC now owns 5,640 shares of the mining company’s stock valued at $951,000 after acquiring an additional 69 shares in the last quarter. Union Bancaire Privee UBP SA lifted its holdings in shares of Agnico Eagle Mines by 1.6% during the 3rd quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company’s stock valued at $749,000 after acquiring an additional 72 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its position in Agnico Eagle Mines by 59.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after purchasing an additional 74 shares during the period. Finally, Evergreen Capital Management LLC raised its position in Agnico Eagle Mines by 0.9% in the second quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company’s stock valued at $979,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. CIBC upped their target price on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Jefferies Financial Group set a $189.00 price objective on shares of Agnico Eagle Mines in a research report on Sunday, December 7th. Zacks Research lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Finally, Scotiabank raised their price target on shares of Agnico Eagle Mines from $219.00 to $276.00 and gave the company an “outperform” rating in a report on Monday. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $217.40.

Agnico Eagle Mines Stock Up 3.2%

AEM stock opened at $223.17 on Thursday. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $181.18 and a 200-day simple moving average of $161.10. The company has a market capitalization of $111.74 billion, a P/E ratio of 32.58, a PEG ratio of 0.63 and a beta of 0.63. Agnico Eagle Mines Limited has a twelve month low of $89.16 and a twelve month high of $224.30.

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 for the quarter, topping the consensus estimate of $1.76 by $0.40. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. During the same period last year, the business earned $1.14 EPS. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Company 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.