Ingalls & Snyder LLC Sells 616 Shares of Agnico Eagle Mines Limited $AEM

Ingalls & Snyder LLC lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,528 shares of the mining company’s stock after selling 616 shares during the period. Ingalls & Snyder LLC’s holdings in Agnico Eagle Mines were worth $1,490,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Agnico Eagle Mines during the first quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Agnico Eagle Mines in the 1st quarter worth $26,000. City State Bank increased its holdings in Agnico Eagle Mines by 69.2% in the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after buying an additional 110 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock valued at $31,000 after purchasing an additional 232 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AEM. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday. Raymond James Financial increased their price objective on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Citigroup increased their price target on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, TD Securities boosted their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $184.50.

Agnico Eagle Mines Trading Down 0.8%

NYSE AEM opened at $163.43 on Monday. The company has a market capitalization of $82.18 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 0.73 and a beta of 0.46. Agnico Eagle Mines Limited has a one year low of $75.17 and a one year high of $187.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The company’s 50-day simple moving average is $157.00 and its two-hundred day simple moving average is $133.20.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the firm earned $1.07 EPS. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. Equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

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.