Employees Retirement System of Texas Sells 4,565 Shares of Agnico Eagle Mines Limited $AEM

Employees Retirement System of Texas trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 14.4% during the second quarter, HoldingsChannel reports. The firm owned 27,113 shares of the mining company’s stock after selling 4,565 shares during the quarter. Employees Retirement System of Texas’ holdings in Agnico Eagle Mines were worth $3,225,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. grew its position 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 valued at $18,196,000 after purchasing an additional 71,400 shares during the period. Kingswood Wealth Advisors LLC bought a new position in Agnico Eagle Mines in the second quarter valued at approximately $232,000. Zurich Insurance Group Ltd FI boosted its holdings in shares of Agnico Eagle Mines by 32.6% in the first quarter. Zurich Insurance Group Ltd FI now owns 509,058 shares of the mining company’s stock valued at $55,214,000 after buying an additional 125,223 shares during the period. Atticus Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines during the second quarter worth $222,000. Finally, Sienna Gestion raised its holdings in shares of Agnico Eagle Mines by 10.3% during the second quarter. Sienna Gestion now owns 95,400 shares of the mining company’s stock worth $10,357,000 after acquiring an additional 8,900 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $173.07 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The company has a fifty day moving average price of $165.43 and a two-hundred day moving average price of $140.61. The stock has a market cap of $86.82 billion, a P/E ratio of 25.27, a P/E/G ratio of 0.70 and a beta of 0.45. Agnico Eagle Mines Limited has a one year low of $76.91 and a one year high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.40. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. During the same period last year, the business posted $1.14 EPS. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AEM. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Agnico Eagle Mines in a research note on Thursday, November 20th. UBS Group upped their price objective on Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. CIBC lifted their target price on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. TD Securities boosted their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Raymond James Financial increased their target price on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Five equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $184.50.

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.