ASR Vermogensbeheer N.V. Decreases Stake in Agnico Eagle Mines Limited $AEM

Key Points

• ASR Vermogensbeheer N.V. decreased its stake in Agnico Eagle Mines Limited by 11.0% in the 2nd quarter, selling 1,600 shares, leaving it with 12,934 shares valued at approximately $1.5 million.
• Investment analysts have a positive outlook on Agnico Eagle Mines, with a consensus rating of "Buy" and a price target of $141.40.
• Agnico Eagle Mines reported earnings of $1.94 per share for the last quarter, exceeding analysts' estimates and reflecting a revenue increase of 35.6% year-over-year.

ASR Vermogensbeheer N.V. reduced its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 11.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,934 shares of the mining company's stock after selling 1,600 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Agnico Eagle Mines were worth $1,538,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Agnico Eagle Mines in the 1st quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in Agnico Eagle Mines during the 1st quarter worth approximately $26,000. Private Trust Co. NA raised its position in Agnico Eagle Mines by 454.9% during the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after buying an additional 232 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Agnico Eagle Mines during the 1st quarter worth approximately $34,000. Finally, Dagco Inc. purchased a new position in Agnico Eagle Mines during the 1st quarter worth approximately $39,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AEM has been the subject of a number of recent research reports. Bank of America raised their price target on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Zacks Research raised shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Weiss Ratings reissued a "buy (a)" rating on shares of Agnico Eagle Mines in a research report on Saturday, September 27th. Finally, Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target for the company in a research report on Monday, June 30th. Seven investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $141.40.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $169.40 on Friday. The stock has a market capitalization of $85.18 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.14 and a beta of 0.46. Agnico Eagle Mines Limited has a 12 month low of $75.17 and a 12 month high of $171.45. The firm's 50 day simple moving average is $145.38 and its 200-day simple moving average is $126.23. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. The business had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The business's revenue was up 35.6% on a year-over-year basis. During the same quarter last year, the company earned $1.07 EPS. Analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current 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.

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.