CIBC Asset Management Inc Trims Holdings in Agnico Eagle Mines Limited $AEM

CIBC Asset Management Inc trimmed its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,838,011 shares of the mining company’s stock after selling 173,111 shares during the quarter. Agnico Eagle Mines accounts for approximately 2.0% of CIBC Asset Management Inc’s portfolio, making the stock its 9th largest position. CIBC Asset Management Inc’s holdings in Agnico Eagle Mines were worth $822,797,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Agnico Eagle Mines by 42.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company’s stock worth $11,088,000 after buying an additional 19,647 shares during the last quarter. TD Asset Management Inc grew its position in shares of Agnico Eagle Mines by 1.5% in the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after buying an additional 143,645 shares during the last quarter. Gunderson Capital Management Inc. grew its position in shares of Agnico Eagle Mines by 187.6% in the 4th quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company’s stock worth $8,155,000 after buying an additional 31,378 shares during the last quarter. TB Alternative Assets Ltd. grew its position in shares of Agnico Eagle Mines by 34.2% in the 4th quarter. TB Alternative Assets Ltd. now owns 229,630 shares of the mining company’s stock worth $38,929,000 after buying an additional 58,490 shares during the last quarter. Finally, Candriam S.C.A. grew its position in shares of Agnico Eagle Mines by 26.4% in the 3rd quarter. Candriam S.C.A. now owns 218,303 shares of the mining company’s stock worth $36,776,000 after buying an additional 45,585 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. TD lifted their price objective on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce lifted their target price on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. Barclays began coverage on shares of Agnico Eagle Mines in a research note on Thursday, May 21st. They set an “overweight” rating and a $213.00 target price on the stock. Finally, Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Trading Up 1.3%

Agnico Eagle Mines stock opened at $178.79 on Wednesday. The business’s fifty day simple moving average is $194.84 and its two-hundred day simple moving average is $194.63. The company has a market capitalization of $89.48 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 3.84 and a beta of 0.56. Agnico Eagle Mines Limited has a 12 month low of $114.60 and a 12 month high of $255.24. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.21. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The business’s revenue was up 66.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.53 earnings per share. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 13.18 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.