Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Keating Investment Counselors Inc.

Keating Investment Counselors Inc. lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.9% in the second quarter, HoldingsChannel.com reports. The firm owned 135,778 shares of the mining company’s stock after selling 18,275 shares during the quarter. Agnico Eagle Mines comprises 2.9% of Keating Investment Counselors Inc.’s holdings, making the stock its 5th largest position. Keating Investment Counselors Inc.’s holdings in Agnico Eagle Mines were worth $8,880,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEM. Norges Bank acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth $325,327,000. FIL Ltd boosted its stake in Agnico Eagle Mines by 16.4% in the fourth quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after acquiring an additional 2,831,794 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $132,257,000. Capital Wealth Planning LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $88,547,000. Finally, TD Asset Management Inc boosted its stake in Agnico Eagle Mines by 41.9% in the fourth quarter. TD Asset Management Inc now owns 4,274,964 shares of the mining company’s stock valued at $235,535,000 after acquiring an additional 1,261,482 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Down 2.3 %

NYSE AEM opened at $76.89 on Friday. The stock has a market capitalization of $38.47 billion, a P/E ratio of 80.94, a P/E/G ratio of 0.79 and a beta of 1.10. Agnico Eagle Mines Limited has a 52-week low of $43.22 and a 52-week high of $83.50. The firm has a 50-day moving average price of $75.93 and a 200 day moving average price of $66.72. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.14. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. Equities research analysts expect that Agnico Eagle Mines Limited will post 3.65 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. CIBC upped their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. StockNews.com upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. TD Securities upped their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Scotiabank increased their target price on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, BMO Capital Markets decreased their target price on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average target price of $82.86.

Agnico Eagle Mines Profile

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.