Erste Asset Management GmbH Sells 10,730 Shares of Agnico Eagle Mines Limited $AEM

Erste Asset Management GmbH lessened its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 124,249 shares of the mining company’s stock after selling 10,730 shares during the period. Erste Asset Management GmbH’s holdings in Agnico Eagle Mines were worth $21,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital World Investors increased its holdings in Agnico Eagle Mines by 2.8% in the 4th quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock valued at $3,618,730,000 after buying an additional 572,473 shares during the period. Vanguard Group Inc. increased its holdings in Agnico Eagle Mines by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock valued at $3,557,772,000 after buying an additional 309,717 shares during the period. TD Asset Management Inc increased its holdings in Agnico Eagle Mines by 1.7% in the 4th quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock valued at $1,641,239,000 after buying an additional 165,263 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Agnico Eagle Mines by 3.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,589,745 shares of the mining company’s stock valued at $1,447,494,000 after buying an additional 292,949 shares during the period. Finally, Norges Bank bought a new stake in Agnico Eagle Mines in the 4th quarter valued at $1,367,783,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 1.0%

AEM opened at $162.07 on Tuesday. The firm’s 50-day simple moving average is $193.38 and its 200-day simple moving average is $194.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. Agnico Eagle Mines Limited has a twelve month low of $114.60 and a twelve month high of $255.24. The firm has a market cap of $81.11 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 3.60 and a beta of 0.56.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Barclays assumed coverage on shares of Agnico Eagle Mines in a report on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price target on the stock. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Erste Group Bank lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $236.08.

About Agnico Eagle Mines

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.