Agnico Eagle Mines Limited $AEM Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 37.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 392,344 shares of the mining company's stock after selling 236,500 shares during the period. Agnico Eagle Mines accounts for about 2.1% of Addenda Capital Inc.'s investment portfolio, making the stock its 15th largest position. Addenda Capital Inc. owned about 0.08% of Agnico Eagle Mines worth $60,864,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Agnico Eagle Mines by 1.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company's stock valued at $893,000 after buying an additional 59 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Agnico Eagle Mines by 0.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,284 shares of the mining company's stock worth $2,422,000 after purchasing an additional 63 shares during the last quarter. Syon Capital LLC grew its position in shares of Agnico Eagle Mines by 1.8% in the fourth quarter. Syon Capital LLC now owns 3,675 shares of the mining company's stock valued at $623,000 after purchasing an additional 65 shares during the period. CIBC Private Wealth Group LLC increased its stake in Agnico Eagle Mines by 1.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company's stock valued at $728,000 after purchasing an additional 67 shares during the last quarter. Finally, Rossby Financial LCC lifted its position in Agnico Eagle Mines by 1.1% during the fourth quarter. Rossby Financial LCC now owns 7,061 shares of the mining company's stock worth $1,197,000 after buying an additional 74 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AEM. Weiss Ratings cut Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Scotia cut their price objective on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating on the stock in a report on Friday, July 3rd. Barclays decreased their target price on shares of 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. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a "hold" rating to a "buy" rating and boosted their target price for the company from $187.00 to $200.00 in a report on Monday, July 6th. Finally, Scotiabank dropped 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. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $226.00.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $206.41 on Monday. Agnico Eagle Mines Limited has a 12 month low of $134.38 and a 12 month high of $255.24. The company has a fifty day moving average price of $165.50 and a two-hundred day moving average price of $187.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.86 and a quick ratio of 2.02. The company has a market cap of $104.63 billion, a PE ratio of 17.66, a P/E/G ratio of 2.56 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.89 by $0.16. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The business's revenue was up 35.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.94 earnings per share. Research analysts expect that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current year.

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.

Want to see what other hedge funds are holding AEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source