Agnico Eagle Mines Limited $AEM is St. James Investment Company LLC’s 8th Largest Position

St. James Investment Company LLC decreased its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 249,125 shares of the mining company’s stock after selling 2,715 shares during the period. Agnico Eagle Mines makes up approximately 4.8% of St. James Investment Company LLC’s portfolio, making the stock its 8th biggest position. St. James Investment Company LLC’s holdings in Agnico Eagle Mines were worth $29,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AEM. TD Asset Management Inc grew its holdings in Agnico Eagle Mines by 42.8% in the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock valued at $978,553,000 after buying an additional 2,709,005 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Agnico Eagle Mines by 57.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock worth $254,029,000 after purchasing an additional 854,924 shares during the period. Nuveen LLC purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter worth about $85,926,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Agnico Eagle Mines by 11.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company’s stock worth $728,214,000 after purchasing an additional 673,400 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Agnico Eagle Mines by 3.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company’s stock worth $1,457,160,000 after purchasing an additional 499,362 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

AEM has been the subject of a number of research reports. CIBC boosted their target price on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Citigroup boosted their target price on Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Raymond James Financial boosted their target price on Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. UBS Group boosted their target price on Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Zacks Research upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Six analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines has a consensus rating of “Buy” and a consensus price target of $175.20.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $163.12 on Wednesday. The stock’s 50 day moving average price is $155.17 and its 200 day moving average price is $131.68. The firm has a market capitalization of $82.02 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 0.82 and a beta of 0.46. 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 Limited has a one year low of $75.17 and a one year high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.Agnico Eagle Mines’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 EPS. As a group, sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

About Agnico Eagle Mines

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.