Agnico Eagle Mines Limited $AEM Stock Sold by Plancorp LLC

Plancorp LLC decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,739 shares of the mining company’s stock after selling 4,182 shares during the quarter. Plancorp LLC’s holdings in Agnico Eagle Mines were worth $10,032,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Deutsche Bank AG acquired a new position in Agnico Eagle Mines during the second quarter worth about $1,362,158,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Agnico Eagle Mines during the 2nd quarter valued at about $927,602,000. Bank of America Corp DE purchased a new stake in Agnico Eagle Mines during the 2nd quarter valued at about $844,096,000. The Manufacturers Life Insurance Company purchased a new stake in Agnico Eagle Mines during the 2nd quarter valued at about $608,054,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Agnico Eagle Mines in the 2nd quarter valued at about $533,750,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 1.3%

Shares of AEM stock traded up $2.53 on Friday, hitting $191.59. 1,750,868 shares of the stock traded hands, compared to its average volume of 1,862,876. The firm’s 50-day moving average price is $188.98 and its two-hundred day moving average price is $188.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.90 and a current ratio of 2.75. The stock has a market capitalization of $97.13 billion, a PE ratio of 15.63, a PEG ratio of 2.53 and a beta of 0.69. Agnico Eagle Mines Limited has a twelve month low of $134.38 and a twelve month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, October 28th. The mining company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.15. Agnico Eagle Mines had a net margin of 41.01% and a return on equity of 21.68%. The firm had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the firm posted $2.10 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 11.42 EPS for the current year.

Analyst Ratings Changes

AEM has been the topic of a number of research reports. Raymond James Financial decreased their target price on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 4th. Barclays lowered their target price on Agnico Eagle Mines from $218.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday, November 2nd. JPMorgan Chase & Co. upped their price target on Agnico Eagle Mines from $190.00 to $193.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Freedom Broker upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $212.00 price target for the company in a research report on Monday, November 2nd. Finally, Wall Street Zen cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $227.00.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.