Agnico Eagle Mines Limited $AEM Shares Sold by Westerkirk Capital Inc.

Westerkirk Capital Inc. lessened its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 65.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,040 shares of the mining company’s stock after selling 14,900 shares during the quarter. Westerkirk Capital Inc.’s holdings in Agnico Eagle Mines were worth $1,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital World Investors raised its stake in shares of 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 acquiring an additional 572,473 shares during the period. Vanguard Group Inc. boosted its position in shares of Agnico Eagle Mines by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock worth $3,557,772,000 after purchasing an additional 309,717 shares during the period. TD Asset Management Inc boosted its position in shares of Agnico Eagle Mines by 1.7% during the 4th quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock worth $1,641,239,000 after purchasing an additional 165,263 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Agnico Eagle Mines by 3.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,589,745 shares of the mining company’s stock worth $1,447,494,000 after purchasing an additional 292,949 shares during the period. Finally, Norges Bank purchased a new position in shares of Agnico Eagle Mines during the 4th quarter worth approximately $1,367,783,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AEM has been the subject of a number of research analyst reports. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Wall Street Zen cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Stock Down 1.0%

Shares of NYSE:AEM opened at $162.07 on Tuesday. The company has a market capitalization of $81.11 billion, a PE ratio of 15.23, a P/E/G ratio of 3.60 and a beta of 0.56. 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 Limited has a twelve month low of $114.60 and a twelve month high of $255.24. The firm has a 50 day simple moving average of $193.38 and a 200-day simple moving average of $194.71.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the firm earned $1.53 EPS. The company’s revenue was up 66.1% compared to the same quarter last year. On average, equities analysts predict that Agnico Eagle Mines Limited will post 13.18 EPS 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.