Agnico Eagle Mines Limited (NYSE:AEM) Stake Lessened by Monaco Asset Management SAM

Monaco Asset Management SAM lessened its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 36.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 120,000 shares of the mining company’s stock after selling 69,000 shares during the quarter. Agnico Eagle Mines accounts for 1.3% of Monaco Asset Management SAM’s portfolio, making the stock its 9th biggest holding. Monaco Asset Management SAM’s holdings in Agnico Eagle Mines were worth $7,848,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AEM. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Agnico Eagle Mines by 2.2% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company’s stock valued at $472,000 after acquiring an additional 158 shares during the period. Banque Cantonale Vaudoise lifted its position in Agnico Eagle Mines by 2.8% during the first quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock valued at $369,000 after purchasing an additional 169 shares in the last quarter. Azzad Asset Management Inc. ADV grew its holdings in Agnico Eagle Mines by 0.3% during the second quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company’s stock valued at $4,043,000 after purchasing an additional 189 shares during the period. Baader Bank Aktiengesellschaft increased its position in Agnico Eagle Mines by 4.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company’s stock worth $269,000 after buying an additional 192 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in shares of Agnico Eagle Mines by 4.7% in the first quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock worth $300,000 after buying an additional 226 shares during the period. Institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AEM. TD Securities boosted their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. CIBC increased their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank raised their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group upped their target price on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Finally, StockNews.com raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average price target of $82.86.

Agnico Eagle Mines Stock Up 1.1 %

AEM opened at $77.77 on Tuesday. The company has a market capitalization of $38.95 billion, a PE ratio of 81.86, a price-to-earnings-growth ratio of 0.75 and a beta of 1.10. The firm has a 50-day simple moving average of $76.18 and a two-hundred day simple moving average of $67.06. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52 week low of $43.22 and a 52 week high of $83.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts forecast that Agnico Eagle Mines Limited will post 3.65 earnings per share for the current fiscal year.

Agnico Eagle Mines Company Profile

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.