SBI Securities Co. Ltd. Reduces Position in Agnico Eagle Mines Limited $AEM

SBI Securities Co. Ltd. cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 50.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,860 shares of the mining company’s stock after selling 1,875 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Agnico Eagle Mines were worth $221,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Hussman Strategic Advisors Inc. increased its holdings in shares of Agnico Eagle Mines by 87.5% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 153,000 shares of the mining company’s stock worth $18,196,000 after acquiring an additional 71,400 shares during the period. Kingswood Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the second quarter valued at approximately $232,000. Zurich Insurance Group Ltd FI increased its position in shares of Agnico Eagle Mines by 32.6% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 509,058 shares of the mining company’s stock valued at $55,214,000 after purchasing an additional 125,223 shares during the period. Atticus Wealth Management LLC acquired a new position in Agnico Eagle Mines during the second quarter worth about $222,000. Finally, Sienna Gestion grew its stake in shares of Agnico Eagle Mines by 10.3% in the 2nd quarter. Sienna Gestion now owns 95,400 shares of the mining company’s stock worth $10,357,000 after purchasing an additional 8,900 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AEM. 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 research report on Friday, October 10th. Bank of America raised their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. 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 research report on Thursday, October 16th. Finally, Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Five research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Buy” and a consensus price target of $184.50.

Agnico Eagle Mines Trading Down 0.3%

Agnico Eagle Mines stock opened at $168.40 on Friday. Agnico Eagle Mines Limited has a 12 month low of $76.38 and a 12 month high of $187.50. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The stock has a market cap of $84.47 billion, a P/E ratio of 24.58, a P/E/G ratio of 0.70 and a beta of 0.45. The company’s fifty day simple moving average is $163.52 and its 200-day simple moving average is $137.82.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.93 billion. During the same quarter last year, the firm earned $1.14 earnings per share. As a group, sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal 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.