Agnico Eagle Mines Limited $AEM Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 13.2% during the first quarter, Holdings Channel.com reports. The fund owned 236,651 shares of the mining company’s stock after selling 35,997 shares during the quarter. Jennison Associates LLC’s holdings in Agnico Eagle Mines were worth $48,035,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AEM. Salvus Wealth Management LLC lifted its stake in shares of Agnico Eagle Mines by 0.9% in the 4th quarter. Salvus Wealth Management LLC now owns 6,301 shares of the mining company’s stock valued at $1,068,000 after purchasing an additional 57 shares in the last quarter. Brookwood Investment Group LLC lifted its position in Agnico Eagle Mines by 4.5% during the fourth quarter. Brookwood Investment Group LLC now owns 1,361 shares of the mining company’s stock valued at $231,000 after buying an additional 58 shares in the last quarter. Baron Wealth Management LLC lifted its position in Agnico Eagle Mines by 3.2% during the fourth quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company’s stock valued at $319,000 after buying an additional 59 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Agnico Eagle Mines by 1.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock worth $893,000 after buying an additional 59 shares during the period. Finally, Baker Ellis Asset Management LLC grew its stake in Agnico Eagle Mines by 0.8% during the fourth quarter. Baker Ellis Asset Management LLC now owns 7,550 shares of the mining company’s stock worth $1,280,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $136.25 on Tuesday. The firm has a market cap of $69.15 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.82 and a beta of 0.60. The firm has a fifty day moving average of $164.20 and a two-hundred day moving average of $191.31. 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 1-year low of $119.84 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.19 by $0.21. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business’s revenue was up 66.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 EPS. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 12.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on AEM shares. Scotiabank decreased their price target on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Barclays cut their price objective on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Erste Group Bank cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. JPMorgan Chase & Co. upped their target price on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating and raised their target price for the company from $187.00 to $200.00 in a report on Monday, July 6th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus target price of $233.62.

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.