Madison Asset Management LLC Decreases Stock Position in Agnico Eagle Mines Limited $AEM

Madison Asset Management LLC cut its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 33.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,603 shares of the mining company’s stock after selling 3,776 shares during the quarter. Madison Asset Management LLC’s holdings in Agnico Eagle Mines were worth $1,289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. MCF Advisors LLC bought a new position in Agnico Eagle Mines during the 3rd quarter valued at $34,000. Lodestone Wealth Management LLC bought a new position in Agnico Eagle Mines during the 4th quarter valued at $35,000. Abound Wealth Management boosted its stake in Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after acquiring an additional 104 shares during the last quarter. Caitlin John LLC bought a new position in Agnico Eagle Mines during the 3rd quarter valued at $36,000. Finally, Bangor Savings Bank bought a new position in Agnico Eagle Mines during the 4th quarter valued at $37,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on AEM. TD Securities increased their price objective on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Citigroup increased their price objective on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. TD increased their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Erste Group Bank downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, UBS Group reduced their price target on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and an average target price of $238.18.

Agnico Eagle Mines Stock Down 1.7%

AEM stock opened at $192.66 on Friday. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a fifty-two week low of $103.96 and a fifty-two week high of $255.24. The firm’s 50-day simple moving average is $203.65 and its 200 day simple moving average is $193.17. The stock has a market cap of $96.42 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 4.29 and a beta of 0.58.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data 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 net margin of 39.46% and a return on equity of 21.09%. The company’s revenue for the quarter was up 66.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 EPS. As a group, sell-side analysts predict that Agnico Eagle Mines Limited will post 13.09 EPS for the current year.

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.