Candriam S.C.A. Sells 51,940 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Candriam S.C.A. cut its Agnico Eagle Mines stake by 13.8%, selling 51,940 shares in the third quarter; it retained 324,156 shares valued at about $59.7 million.
• Agnico Eagle reported quarterly EPS of $2.62, beating the $2.47 consensus, while revenue rose 17.1% year over year to $3.54 billion.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $227, compared with shares opening at $191.59.

Candriam S.C.A. decreased its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 13.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 324,156 shares of the mining company's stock after selling 51,940 shares during the period. Candriam S.C.A. owned about 0.06% of Agnico Eagle Mines worth $59,658,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of Agnico Eagle Mines by 600.0% during the 3rd quarter. Fortitude Family Office LLC now owns 140 shares of the mining company's stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Markowski Investments bought a new stake in shares of Agnico Eagle Mines during the second quarter valued at approximately $29,000. Dunhill Financial LLC acquired a new position in shares of Agnico Eagle Mines in the second quarter valued at $31,000. Fiduciary Financial Advisors acquired a new position in shares of Agnico Eagle Mines in the second quarter valued at $32,000. Finally, Sawyer & Company Inc acquired a new position in shares of Agnico Eagle Mines in the third quarter valued at $35,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Trading Up 1.3%

Shares of Agnico Eagle Mines stock opened at $191.59 on Friday. Agnico Eagle Mines Limited has a 12-month low of $134.38 and a 12-month high of $255.24. The stock has a market capitalization of $96.93 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 2.91 and a beta of 0.69. The company has a 50-day simple moving average of $188.98 and a 200 day simple moving average of $188.96. The company has a quick ratio of 1.90, a current ratio of 2.75 and a debt-to-equity ratio of 0.01.

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 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.15. The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. Agnico Eagle Mines had a net margin of 41.01% and a return on equity of 21.68%. The company's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.10 earnings per share. Research analysts expect that Agnico Eagle Mines Limited will post 11.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Freedom Broker raised shares of Agnico Eagle Mines from a "hold" rating to a "buy" rating and set a $212.00 price target on the stock in a report on Monday, November 2nd. Weiss Ratings upgraded shares of Agnico Eagle Mines from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, October 14th. Royal Bank Of Canada raised their price objective on shares of Agnico Eagle Mines from $210.00 to $225.00 and gave the stock a "sector perform" rating in a report on Wednesday, September 16th. Finally, Barclays decreased their target price on shares of Agnico Eagle Mines from $218.00 to $215.00 and set an "overweight" rating on the stock in a research report on Monday, November 2nd. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $227.00.

Agnico Eagle Mines Company Profile

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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