Agnico Eagle Mines Limited $AEM Stock Holdings Trimmed by Swiss National Bank

Swiss National Bank reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,332,758 shares of the mining company’s stock after selling 115,100 shares during the period. Swiss National Bank’s holdings in Agnico Eagle Mines were worth $226,474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lodestone Wealth Management LLC bought a new stake in Agnico Eagle Mines in the fourth quarter valued at about $35,000. Jessup Wealth Management Inc bought a new stake in Agnico Eagle Mines in the fourth quarter valued at about $35,000. Abound Wealth Management increased its holdings in Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after buying an additional 104 shares during the last quarter. Caitlin John LLC bought a new stake in Agnico Eagle Mines in the third quarter valued at about $36,000. Finally, Bangor Savings Bank bought a new stake in Agnico Eagle Mines in the fourth quarter valued at about $37,000. 68.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. JPMorgan Chase & Co. raised their price target on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce raised their price target on shares of Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. 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. Finally, TD Securities raised their price target on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $157.60 on Friday. The company has a market cap of $78.88 billion, a P/E ratio of 14.81, a PEG ratio of 3.35 and a beta of 0.56. The stock has a fifty day moving average price of $191.02 and a 200 day moving average price of $194.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. Agnico Eagle Mines Limited has a 12 month low of $114.60 and a 12 month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm’s revenue was up 66.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.53 EPS. On average, research analysts forecast that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current 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.