Journey Advisory Group LLC Trims Stock Position in Agnico Eagle Mines Limited $AEM

Journey Advisory Group LLC trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 18.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 20,877 shares of the mining company’s stock after selling 4,750 shares during the period. Journey Advisory Group LLC’s holdings in Agnico Eagle Mines were worth $4,238,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AEM. Norges Bank acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $1,367,783,000. Van ECK Associates Corp lifted its holdings in Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after acquiring an additional 3,062,705 shares during the last quarter. Alberta Investment Management Corp acquired a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $194,195,000. Employees Provident Fund Board purchased a new position in Agnico Eagle Mines in the fourth quarter worth approximately $183,341,000. Finally, Auto Owners Insurance Co grew its position in Agnico Eagle Mines by 16,853.0% in the fourth quarter. Auto Owners Insurance Co now owns 915,462 shares of the mining company’s stock worth $15,520,000 after acquiring an additional 910,062 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Scotiabank cut their target price on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a research note on Tuesday. UBS Group decreased their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. JPMorgan Chase & Co. increased their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Bank of America cut their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.08.

Agnico Eagle Mines Stock Down 1.4%

Shares of NYSE AEM opened at $142.38 on Thursday. The firm has a market cap of $72.27 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.90 and a beta of 0.60. 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 52-week low of $116.83 and a 52-week high of $255.24. The business’s 50 day moving average is $167.55 and its two-hundred day moving average is $192.12.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the firm earned $1.53 earnings per share. The firm’s revenue was up 66.1% compared to the same quarter last year. Research analysts predict that Agnico Eagle Mines Limited will post 12.44 EPS for the current year.

Agnico Eagle Mines 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.