Agnico Eagle Mines Limited $AEM Stake Lessened by NFJ Investment Group LLC

Key Points

• NFJ Investment Group LLC reduced its stake in Agnico Eagle Mines Limited by 42.7%, now holding 5,525 shares worth approximately $599,000.
• Other institutional investors have made notable adjustments to their holdings, with TD Asset Management Inc increasing its stake by 42.8% and Canada Pension Plan Investment Board raising its stake by 57.4% in the same quarter.
• Agnico Eagle Mines reported $1.94 EPS, exceeding analysts' expectations, along with a year-over-year revenue increase of 35.6% to $2.86 billion.

NFJ Investment Group LLC cut its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 42.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,525 shares of the mining company's stock after selling 4,120 shares during the period. NFJ Investment Group LLC's holdings in Agnico Eagle Mines were worth $599,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AEM. TD Asset Management Inc boosted its holdings in shares of Agnico Eagle Mines by 42.8% in the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after acquiring an additional 2,709,005 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Agnico Eagle Mines by 57.4% during the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock valued at $254,029,000 after purchasing an additional 854,924 shares during the last quarter. Nuveen LLC acquired a new stake in Agnico Eagle Mines during the first quarter valued at approximately $85,926,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Agnico Eagle Mines by 11.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock valued at $728,214,000 after purchasing an additional 673,400 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Agnico Eagle Mines during the fourth quarter valued at approximately $46,799,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

AEM opened at $151.93 on Friday. The stock has a fifty day moving average of $129.88 and a 200-day moving average of $117.87. The firm has a market capitalization of $76.39 billion, a P/E ratio of 25.84, a PEG ratio of 1.04 and a beta of 0.45. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-month high of $152.75. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03.

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

Wall Street Analyst Weigh In

AEM has been the subject of several recent research reports. Royal Bank Of Canada increased their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Zacks Research lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price for the company in a research note on Monday, June 30th. Five analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of "Buy" and an average price target of $136.90.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.