Agnico Eagle Mines Limited $AEM Shares Sold by St. James Investment Company LLC

Key Points

• St. James Investment Company LLC reduced its stake in Agnico Eagle Mines by 1.1%, now owning 249,125 shares valued at approximately $29.6 million.
• Agnico Eagle Mines reported earnings of $1.94 per share, exceeding expectations, with revenue hitting $2.86 billion, a 35.6% increase year-over-year.
• Wall Street analysts have set a target price for Agnico Eagle Mines, with Citigroup raising it from $140 to $198 and several analysts giving it a buy rating.

St. James Investment Company LLC lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 1.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 249,125 shares of the mining company's stock after selling 2,715 shares during the quarter. Agnico Eagle Mines accounts for about 4.8% of St. James Investment Company LLC's holdings, making the stock its 8th biggest position. St. James Investment Company LLC's holdings in Agnico Eagle Mines were worth $29,628,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. DAVENPORT & Co LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter valued at $226,000. Bank of New York Mellon Corp increased its position in shares of Agnico Eagle Mines by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock valued at $52,613,000 after buying an additional 5,717 shares in the last quarter. Private Trust Co. NA increased its position in shares of Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after buying an additional 232 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter valued at $34,000. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the first quarter valued at $234,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Trading Down 8.6%

Shares of AEM stock opened at $163.12 on Wednesday. The firm has a 50-day moving average price of $155.17 and a 200 day moving average price of $131.68. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $187.50. The company has a market capitalization of $82.02 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 0.82 and a beta of 0.46. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The firm's revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 EPS. Research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of research analyst reports. Citigroup raised their price target on Agnico Eagle Mines from $140.00 to $198.00 and gave the company a "buy" rating in a research report on Wednesday, October 15th. TD Securities raised their price target on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Bank of America lifted their price objective on Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a "buy" rating in a research report on Thursday, October 16th. Finally, Zacks Research raised shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Six research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of "Buy" and an average price target of $175.20.

About Agnico Eagle Mines

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.

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