Ossiam Reduces Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Ossiam cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,111 shares of the mining company’s stock after selling 9,951 shares during the quarter. Ossiam’s holdings in Agnico Eagle Mines were worth $4,722,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Raymond James Trust N.A. acquired a new position in shares of Agnico Eagle Mines in the 4th quarter worth approximately $207,000. Raymond James & Associates raised its stake in Agnico Eagle Mines by 15.5% during the 4th quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock valued at $19,990,000 after acquiring an additional 48,782 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Agnico Eagle Mines in the 4th quarter worth $36,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Agnico Eagle Mines by 13.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 102,664 shares of the mining company’s stock worth $5,631,000 after buying an additional 12,488 shares in the last quarter. Finally, Pinnacle Wealth Management Group Inc. raised its position in shares of Agnico Eagle Mines by 3.2% during the fourth quarter. Pinnacle Wealth Management Group Inc. now owns 22,853 shares of the mining company’s stock worth $1,253,000 after purchasing an additional 700 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

AEM traded down $1.57 on Thursday, hitting $73.06. The company had a trading volume of 2,204,232 shares, compared to its average volume of 2,839,898. The company’s fifty day moving average price is $68.74 and its 200 day moving average price is $60.34. Agnico Eagle Mines Limited has a 1-year low of $43.22 and a 1-year high of $77.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88. The stock has a market cap of $36.54 billion, a price-to-earnings ratio of 76.91, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the company earned $0.57 EPS. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. Equities analysts predict that Agnico Eagle Mines Limited will post 3.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AEM has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Scotiabank lifted their price target on Agnico Eagle Mines from $71.00 to $81.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 23rd. StockNews.com raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. TD Securities lifted their target price on Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Citigroup lifted their target price on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.22.

About Agnico Eagle Mines

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.