Ruffer LLP Reduces Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Ruffer LLP significantly decreased its holdings in Agnico Eagle Mines Limited by 75%, selling 68,218 shares and retaining 22,679 shares, worth approximately $2.7 million.
• Analysts have mixed views on the stock, with some upgrades and downgrades, resulting in an average rating of Buy and a price target of $141.40.
• Agnico Eagle Mines reported a 35.6% year-over-year increase in revenue, with earnings per share of $1.94 for the last quarter, surpassing analyst expectations.

Ruffer LLP decreased its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 75.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,679 shares of the mining company's stock after selling 68,218 shares during the quarter. Ruffer LLP's holdings in Agnico Eagle Mines were worth $2,697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Agnico Eagle Mines in the 1st quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Agnico Eagle Mines in the 1st quarter valued at about $26,000. Private Trust Co. NA grew its holdings in Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after buying an additional 232 shares during the period. Golden State Wealth Management LLC purchased a new stake in Agnico Eagle Mines in the 1st quarter valued at about $34,000. Finally, Dagco Inc. purchased a new stake in Agnico Eagle Mines in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. UBS Group lifted their price objective on Agnico Eagle Mines from $125.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. Zacks Research lowered Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Bank of America lifted their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of "Buy" and an average price target of $141.40.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $158.10 on Thursday. The stock's 50 day moving average price is $139.40 and its 200 day moving average price is $122.97. The firm has a market capitalization of $79.49 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.09 and a beta of 0.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03. Agnico Eagle Mines Limited has a one year low of $75.17 and a one year high of $164.64.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. The firm had revenue of $2.86 billion for 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%.Agnico Eagle Mines's revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 EPS. As a group, sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal 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.