Keating Investment Counselors Inc. Sells 8,080 Shares of Agnico Eagle Mines Limited $AEM

Keating Investment Counselors Inc. trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 100,936 shares of the mining company’s stock after selling 8,080 shares during the period. Agnico Eagle Mines accounts for approximately 4.9% of Keating Investment Counselors Inc.’s portfolio, making the stock its 4th largest position. Keating Investment Counselors Inc.’s holdings in Agnico Eagle Mines were worth $17,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. True Wealth Design LLC lifted its position in Agnico Eagle Mines by 381.3% during the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Blue Bell Private Wealth Management LLC raised its stake in shares of Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Agnico Eagle Mines during the second quarter worth $25,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the second quarter worth $29,000. Finally, City State Bank grew its position 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 buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AEM shares. Wall Street Zen downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday. Raymond James Financial raised their price objective on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Jefferies Financial Group set a $189.00 price objective on Agnico Eagle Mines in a report on Sunday, December 7th. Finally, TD Securities increased their target price on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $201.60.

Agnico Eagle Mines Trading Up 2.3%

Shares of AEM opened at $198.89 on Wednesday. Agnico Eagle Mines Limited has a twelve month low of $81.96 and a twelve month high of $200.80. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $99.58 billion, a P/E ratio of 29.03, a PEG ratio of 0.60 and a beta of 0.63. The firm’s 50-day moving average is $171.90 and its two-hundred day moving average is $154.49.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results 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 return on equity of 15.64% and a net margin of 32.62%.The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the company earned $1.14 EPS. On average, research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal 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.