TD Waterhouse Canada Inc. Reduces Stake in Agnico Eagle Mines Limited $AEM

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

A number of other institutional investors also recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at about $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Agnico Eagle Mines in the first quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter worth approximately $26,000. City State Bank grew its position in Agnico Eagle Mines by 69.2% during the second quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after buying an additional 110 shares during the period. Finally, Dagco Inc. purchased a new stake in Agnico Eagle Mines during the first quarter valued at approximately $39,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $166.37 on Wednesday. The stock has a 50-day moving average price of $164.00 and a 200 day moving average price of $138.72. The stock has a market capitalization of $83.46 billion, a P/E ratio of 24.29, a P/E/G ratio of 0.70 and a beta of 0.45. 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 posted its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the company posted $1.14 EPS. Equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Raymond James Financial lifted their price target on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. 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 report on Thursday, October 16th. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Finally, Citigroup boosted 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. Five analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $184.50.

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.