Royal London Asset Management Ltd. Sells 3,826 Shares of Agnico Eagle Mines Limited $AEM

Royal London Asset Management Ltd. decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.4% during the second quarter, HoldingsChannel reports. The firm owned 262,182 shares of the mining company’s stock after selling 3,826 shares during the period. Royal London Asset Management Ltd.’s holdings in Agnico Eagle Mines were worth $40,672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Acumen Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines during the fourth quarter worth $26,000. Dunhill Financial LLC bought a new stake in Agnico Eagle Mines during the 2nd quarter valued at $31,000. Fiduciary Financial Advisors purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at $32,000. Jessup Wealth Management Inc purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $35,000. Finally, Allied Private Wealth LLC bought a new position in shares of Agnico Eagle Mines in the 2nd quarter worth $36,000. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Bank of America decreased their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Barclays cut their target price on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and boosted their target price for the stock from $187.00 to $200.00 in a report on Monday, July 6th. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Finally, Wall Street Zen cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.00.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $206.41 on Friday. Agnico Eagle Mines Limited has a fifty-two week low of $134.38 and a fifty-two week high of $255.24. The company has a market cap of $104.63 billion, a PE ratio of 17.66, a P/E/G ratio of 2.56 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The business has a 50-day simple moving average of $165.50 and a two-hundred day simple moving average of $187.44.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.16. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.94 earnings per share. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 11.56 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.