Raymond James & Associates Decreases Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Raymond James & Associates reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 349,573 shares of the mining company’s stock after selling 5,048 shares during the period. Raymond James & Associates’ holdings in Agnico Eagle Mines were worth $28,162,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AEM. Blue Trust Inc. boosted its stake in Agnico Eagle Mines by 124.2% in the 3rd quarter. Blue Trust Inc. now owns 3,663 shares of the mining company’s stock worth $295,000 after purchasing an additional 2,029 shares in the last quarter. Generate Investment Management Ltd raised its stake in shares of Agnico Eagle Mines by 57.0% in the third quarter. Generate Investment Management Ltd now owns 311,818 shares of the mining company’s stock worth $25,120,000 after purchasing an additional 113,178 shares during the last quarter. Creative Planning lifted its holdings in shares of Agnico Eagle Mines by 28.7% during the third quarter. Creative Planning now owns 37,876 shares of the mining company’s stock worth $3,051,000 after purchasing an additional 8,456 shares during the period. Sapient Capital LLC boosted its position in Agnico Eagle Mines by 1.3% in the third quarter. Sapient Capital LLC now owns 11,001 shares of the mining company’s stock valued at $886,000 after buying an additional 145 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in Agnico Eagle Mines by 138.5% in the third quarter. Ritholtz Wealth Management now owns 8,072 shares of the mining company’s stock valued at $650,000 after buying an additional 4,687 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. CIBC lifted their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. TD Securities boosted their target price on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada increased their price target on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group lifted their price objective on Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, UBS Group began coverage on Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a “buy” rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $86.78.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $88.64 on Thursday. The stock has a market capitalization of $44.34 billion, a price-to-earnings ratio of 93.31, a PEG ratio of 0.71 and a beta of 1.10. The stock has a 50-day moving average of $81.23 and a 200 day moving average of $72.85. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a twelve month low of $44.37 and a twelve month high of $88.64.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 3.88 EPS for the current fiscal year.

Agnico Eagle Mines Company 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.