Baader Bank Aktiengesellschaft Sells 1,866 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Baader Bank Aktiengesellschaft has reduced its holdings in Agnico Eagle Mines Limited by 29.4%, selling 1,866 shares during the 2nd quarter, leaving it with 4,474 shares valued at $502,000.
• Several analysts have increased their price targets for Agnico Eagle Mines, with Bank of America raising its target from $170.00 to $173.00 and Royal Bank of Canada increasing its objective from $115.00 to $145.00.
• Agnico Eagle Mines reported a strong quarterly performance, with earnings of $1.94 per share, exceeding the consensus estimate of $1.83, and revenue of $2.86 billion, significantly above expectations of $2.46 billion.

Baader Bank Aktiengesellschaft lowered its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 29.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,474 shares of the mining company's stock after selling 1,866 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Agnico Eagle Mines were worth $502,000 at the end of the most recent quarter.

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

Agnico Eagle Mines Stock Up 4.5%

Shares of AEM traded up $6.91 during mid-day trading on Friday, hitting $161.29. 9,137,369 shares of the company's stock were exchanged, compared to its average volume of 2,721,813. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average of $136.93 and a two-hundred day moving average of $121.70. The stock has a market cap of $81.10 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 1.04 and a beta of 0.45. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $162.53.

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 for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates 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 in the previous year, the business earned $1.07 EPS. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Analysts Set New Price Targets

AEM has been the subject of several research reports. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Royal Bank Of Canada raised their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Bank of America raised their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Finally, Zacks Research downgraded shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Five research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $141.40.

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.