TD Waterhouse Canada Inc. Sells 84,661 Shares of Agnico Eagle Mines Limited $AEM

TD Waterhouse Canada Inc. lowered its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 999,237 shares of the mining company’s stock after selling 84,661 shares during the period. Agnico Eagle Mines accounts for about 0.8% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 29th largest holding. TD Waterhouse Canada Inc. owned about 0.20% of Agnico Eagle Mines worth $118,064,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AEM. Ameritas Advisory Services LLC bought a new position in Agnico Eagle Mines in the second quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Agnico Eagle Mines in the 1st quarter worth about $26,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Agnico Eagle Mines in the 1st quarter worth about $26,000. City State Bank increased its stake in shares of 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 acquiring an additional 110 shares in the last quarter. Finally, Dagco Inc. purchased a new position in Agnico Eagle Mines during the 1st quarter valued at about $39,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $166.37 on Wednesday. The company has a market cap of $83.46 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 0.70 and a beta of 0.45. The business’s fifty day simple moving average is $164.00 and its two-hundred day simple moving average is $138.72. Agnico Eagle Mines Limited has a 12 month low of $76.91 and a 12 month high of $187.50. 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 announced its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the company posted $1.14 earnings per share. Research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Raymond James Financial upped their price objective on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. UBS Group upped their price target on Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Citigroup lifted their price objective on Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Bank of America boosted their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Five research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.