Comerica Bank lessened its position in Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,456 shares of the mining company’s stock after selling 226 shares during the period. Comerica Bank’s holdings in Agnico Eagle Mines were worth $658,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisory Services Network LLC acquired a new position in Agnico Eagle Mines in the 2nd quarter worth about $26,000. Carroll Financial Associates Inc. grew its position in shares of Agnico Eagle Mines by 64.0% in the 2nd quarter. Carroll Financial Associates Inc. now owns 546 shares of the mining company’s stock valued at $27,000 after buying an additional 213 shares during the last quarter. SeaBridge Investment Advisors LLC grew its position in shares of Agnico Eagle Mines by 66.7% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $51,000 after buying an additional 400 shares during the last quarter. Signaturefd LLC grew its position in shares of Agnico Eagle Mines by 36.2% in the 1st quarter. Signaturefd LLC now owns 1,743 shares of the mining company’s stock valued at $76,000 after buying an additional 463 shares during the last quarter. Finally, HL Financial Services LLC bought a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at about $200,000. 61.51% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on AEM. JPMorgan Chase & Co. upped their price target on Agnico Eagle Mines from $68.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Citigroup upped their price target on Agnico Eagle Mines from $55.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday. ValuEngine upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Monday, May 20th. Raymond James upped their price target on Agnico Eagle Mines from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Finally, CIBC restated a “buy” rating and set a $70.00 target price on shares of Agnico Eagle Mines in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $59.26.
AEM stock traded down $1.37 during trading on Friday, reaching $55.22. 393,899 shares of the stock were exchanged, compared to its average volume of 1,506,426. The firm’s 50 day moving average is $58.68 and its 200 day moving average is $48.34. Agnico Eagle Mines Ltd has a twelve month low of $32.97 and a twelve month high of $64.88. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The firm has a market cap of $13.54 billion, a P/E ratio of 145.36, a price-to-earnings-growth ratio of 71.01 and a beta of -0.49.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 24th. The mining company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.03 by $0.07. The firm had revenue of $526.60 million during the quarter, compared to the consensus estimate of $490.93 million. Agnico Eagle Mines had a positive return on equity of 1.92% and a negative net margin of 14.74%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 earnings per share. As a group, analysts predict that Agnico Eagle Mines Ltd will post 0.8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.22 dividend. The ex-dividend date is Thursday, August 29th. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a dividend yield of 1.59%.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
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