Journey Advisory Group LLC Decreases Stock Holdings in Agnico Eagle Mines Limited $AEM

Journey Advisory Group LLC lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 18.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,877 shares of the mining company’s stock after selling 4,750 shares during the quarter. Journey Advisory Group LLC’s holdings in Agnico Eagle Mines were worth $4,238,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at about $1,367,783,000. Van ECK Associates Corp raised its position in shares of Agnico Eagle Mines by 21.6% during the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after purchasing an additional 3,062,705 shares during the last quarter. Alberta Investment Management Corp purchased a new position in Agnico Eagle Mines in the 4th quarter valued at about $194,195,000. Employees Provident Fund Board purchased a new position in Agnico Eagle Mines in the 4th quarter valued at about $183,341,000. Finally, Auto Owners Insurance Co boosted its holdings in Agnico Eagle Mines by 16,853.0% in the 4th quarter. Auto Owners Insurance Co now owns 915,462 shares of the mining company’s stock worth $15,520,000 after buying an additional 910,062 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Down 1.4%

Shares of Agnico Eagle Mines stock opened at $142.38 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The stock’s 50 day simple moving average is $167.55 and its 200-day simple moving average is $192.12. The stock has a market cap of $72.27 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.90 and a beta of 0.60. Agnico Eagle Mines Limited has a 1-year low of $116.83 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating the consensus estimate of $3.19 by $0.21. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business’s revenue for the quarter was up 66.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 earnings per share. Analysts predict that Agnico Eagle Mines Limited will post 12.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. TD boosted their price objective on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and raised their target price for the company from $187.00 to $200.00 in a research report on Monday, July 6th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Scotia dropped their price target on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research report on Friday, July 3rd. Finally, Royal Bank Of Canada reduced their price objective on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a research note on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average price target of $235.08.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.