Agnico Eagle Mines Limited $AEM Shares Sold by General American Investors Co. Inc.

General American Investors Co. Inc. reduced its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 25.3% in the 4th quarter, HoldingsChannel reports. The fund owned 179,272 shares of the mining company’s stock after selling 60,728 shares during the quarter. Agnico Eagle Mines accounts for approximately 1.7% of General American Investors Co. Inc.’s investment portfolio, making the stock its 13th biggest holding. General American Investors Co. Inc.’s holdings in Agnico Eagle Mines were worth $30,392,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in AEM. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Agnico Eagle Mines by 42.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company’s stock valued at $11,088,000 after purchasing an additional 19,647 shares during the last quarter. TD Asset Management Inc raised its stake in Agnico Eagle Mines by 1.5% during the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock valued at $1,600,436,000 after acquiring an additional 143,645 shares during the last quarter. Gunderson Capital Management Inc. raised its stake in Agnico Eagle Mines by 187.6% during the 4th quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company’s stock valued at $8,155,000 after acquiring an additional 31,378 shares during the last quarter. TB Alternative Assets Ltd. raised its stake in Agnico Eagle Mines by 34.2% during the 4th quarter. TB Alternative Assets Ltd. now owns 229,630 shares of the mining company’s stock valued at $38,929,000 after acquiring an additional 58,490 shares during the last quarter. Finally, Cannell & Spears LLC raised its stake in Agnico Eagle Mines by 15.0% during the 3rd quarter. Cannell & Spears LLC now owns 559,751 shares of the mining company’s stock valued at $94,352,000 after acquiring an additional 72,932 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AEM has been the subject of several analyst reports. Wall Street Zen downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Saturday. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. TD Securities upped their price objective on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. upped their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $236.08.

Agnico Eagle Mines Stock Performance

AEM opened at $162.70 on Friday. The stock has a market cap of $81.43 billion, a P/E ratio of 15.29, a P/E/G ratio of 3.57 and a beta of 0.56. 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 $190.08 and its 200 day simple moving average is $194.36. Agnico Eagle Mines Limited has a 1-year low of $114.60 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion for 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 company’s revenue was up 66.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.53 EPS. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 13.2 EPS for the current fiscal year.

About Agnico Eagle Mines

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.