Heathbridge Capital Management Ltd. Sells 1,750 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Heathbridge Capital Management Ltd. reduced its stake in Agnico Eagle Mines by 1.2%, selling 1,750 shares, and now holds 144,550 shares, valued at $17.19 million.
• Agnico Eagle Mines reported a quarterly earnings per share (EPS) of $1.94, exceeding analysts' expectations, with a year-over-year revenue increase of 35.6%.
• Several hedge funds have made significant changes in their positions, increasing institutional ownership to 68.34% of the company's stock.

Heathbridge Capital Management Ltd. lessened its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144,550 shares of the mining company's stock after selling 1,750 shares during the quarter. Agnico Eagle Mines comprises about 6.9% of Heathbridge Capital Management Ltd.'s investment portfolio, making the stock its 6th biggest holding. Heathbridge Capital Management Ltd.'s holdings in Agnico Eagle Mines were worth $17,190,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. DAVENPORT & Co LLC acquired a new position in shares of Agnico Eagle Mines during the first quarter valued at approximately $226,000. Bank of New York Mellon Corp increased its stake in shares of Agnico Eagle Mines by 1.2% during 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 acquiring an additional 5,717 shares during the period. Private Trust Co. NA increased its stake in shares of 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 acquiring an additional 232 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the first quarter valued at approximately $34,000. Finally, OneDigital Investment Advisors LLC acquired a new position in Agnico Eagle Mines in the first quarter worth approximately $234,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Trading Down 2.4%

Agnico Eagle Mines stock opened at $166.32 on Wednesday. The company has a 50 day moving average price of $147.11 and a 200 day moving average price of $127.11. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $172.21. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. The firm has a market capitalization of $83.63 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 1.14 and a beta of 0.46.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted 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. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the business posted $1.07 EPS. The company's revenue was up 35.6% on a year-over-year basis. Research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AEM. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Weiss Ratings restated a "buy (a)" rating on shares of Agnico Eagle Mines in a research report on Saturday, September 27th. Zacks Research upgraded shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. UBS Group lifted their price target on shares of Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. Finally, TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $141.40.

Agnico Eagle Mines 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.

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