Empowered Funds LLC Cuts Stock Holdings in Agnico Eagle Mines Limited $AEM

Empowered Funds LLC lowered its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 65,521 shares of the mining company’s stock after selling 3,145 shares during the period. Empowered Funds LLC’s holdings in Agnico Eagle Mines were worth $7,792,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new position in shares of Agnico Eagle Mines during the 2nd quarter worth approximately $25,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in Agnico Eagle Mines during the first quarter worth $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in Agnico Eagle Mines in the first quarter worth $26,000. City State Bank grew its stake in Agnico Eagle Mines by 69.2% in the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after purchasing an additional 110 shares during the period. Finally, Dagco Inc. purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at $39,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AEM shares. TD Securities boosted their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Citigroup increased their target price on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. UBS Group raised their price target on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a research note 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, Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Five equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $184.50.

Agnico Eagle Mines Price Performance

AEM opened at $167.53 on Thursday. The firm has a 50-day moving average price of $164.29 and a 200-day moving average price of $138.92. Agnico Eagle Mines Limited has a twelve month low of $76.91 and a twelve month high of $187.50. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $84.04 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 0.70 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the firm earned $1.14 EPS. Equities analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines 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.