Old West Investment Management LLC Trims Stock Position in Agnico Eagle Mines Limited $AEM

Old West Investment Management LLC lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,129 shares of the mining company’s stock after selling 9,252 shares during the quarter. Agnico Eagle Mines accounts for about 3.8% of Old West Investment Management LLC’s investment portfolio, making the stock its 8th biggest holding. Old West Investment Management LLC’s holdings in Agnico Eagle Mines were worth $11,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. TD Asset Management Inc grew its position in shares of Agnico Eagle Mines by 3.6% in the 2nd quarter. TD Asset Management Inc now owns 9,356,548 shares of the mining company’s stock valued at $1,112,500,000 after acquiring an additional 323,252 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Agnico Eagle Mines by 11.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company’s stock valued at $728,214,000 after buying an additional 673,400 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Agnico Eagle Mines by 21.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,136,535 shares of the mining company’s stock valued at $501,717,000 after purchasing an additional 722,117 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Agnico Eagle Mines by 57.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock worth $254,029,000 after purchasing an additional 854,924 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Agnico Eagle Mines by 10.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,395 shares of the mining company’s stock valued at $214,361,000 after purchasing an additional 189,935 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 2.6%

Shares of AEM opened at $168.67 on Friday. The stock’s 50-day moving average price is $163.19 and its two-hundred day moving average price is $137.32. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $187.50. The company has a market capitalization of $84.75 billion, a PE ratio of 24.62, a PEG ratio of 0.70 and a beta of 0.45. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.40. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Citigroup boosted their target price on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. UBS Group boosted their price objective on Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Finally, Raymond James Financial upped their price objective on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Four research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $184.50.

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.