Agnico Eagle Mines Limited $AEM Shares Sold by Capital Management Corp VA

Key Points

• Capital Management Corp VA reduced its Agnico Eagle Mines stake by 6.4% in the third quarter, selling 9,350 shares and retaining 135,887 shares valued at approximately $24.9 million. Institutional investors collectively own 68.34% of the company.
• Analyst sentiment remains favorable, with 13 Buy ratings and six Holds. Agnico Eagle has a “Moderate Buy” consensus rating and an average price target of $227, despite mixed target-price adjustments.
• Agnico Eagle reported quarterly earnings of $2.62 per share, exceeding estimates of $2.47, while revenue rose 17.1% year over year to $3.54 billion. The stock opened at $170.21, with a market capitalization of approximately $86.3 billion.

Capital Management Corp VA decreased its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 6.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,887 shares of the mining company's stock after selling 9,350 shares during the period. Agnico Eagle Mines makes up approximately 3.7% of Capital Management Corp VA's holdings, making the stock its 6th biggest position. Capital Management Corp VA's holdings in Agnico Eagle Mines were worth $24,904,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. McAlvany Wealth Management LLC lifted its stake in shares of Agnico Eagle Mines by 23.9% in the third quarter. McAlvany Wealth Management LLC now owns 45,995 shares of the mining company's stock worth $8,430,000 after buying an additional 8,887 shares in the last quarter. Walled Lake Planning & Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines during the third quarter valued at approximately $219,000. Vise Technologies Inc. purchased a new position in Agnico Eagle Mines in the 3rd quarter worth approximately $3,867,000. Cidel Asset Management Inc. raised its holdings in Agnico Eagle Mines by 31.5% in the 3rd quarter. Cidel Asset Management Inc. now owns 161,742 shares of the mining company's stock worth $29,688,000 after acquiring an additional 38,731 shares during the last quarter. Finally, MGO One Seven LLC lifted its position in Agnico Eagle Mines by 6.5% in the 3rd quarter. MGO One Seven LLC now owns 5,347 shares of the mining company's stock valued at $980,000 after acquiring an additional 328 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on AEM shares. Royal Bank Of Canada increased their target price on Agnico Eagle Mines from $210.00 to $225.00 and gave the company a "sector perform" rating in a research note on Wednesday, September 16th. UBS Group boosted their price target on Agnico Eagle Mines from $170.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, October 8th. Jefferies Financial Group raised Agnico Eagle Mines from a "hold" rating to a "buy" rating and upped their price target for the company from $187.00 to $200.00 in a report on Monday, July 6th. Weiss Ratings raised Agnico Eagle Mines from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, October 14th. Finally, Bank of America reduced their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $227.00.

Agnico Eagle Mines Trading Up 2.9%

NYSE:AEM opened at $170.21 on Tuesday. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 12 month low of $134.38 and a 12 month high of $255.24. The company has a market cap of $86.29 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 2.71 and a beta of 0.64. The company has a 50 day simple moving average of $191.79 and a two-hundred day simple moving average of $189.33.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Wednesday, October 28th. The mining company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.15. The firm had revenue of $3.54 billion for the quarter, compared to analysts' expectations of $3.51 billion. Agnico Eagle Mines had a return on equity of 22.31% and a net margin of 41.01%. The company's revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.10 EPS. Research analysts forecast that Agnico Eagle Mines Limited will post 11.40 earnings per share for the current year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited NYSE: AEM is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.

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