Agnico Eagle Mines Limited $AEM Shares Sold by Sapient Capital LLC

Key Points

• Sapient Capital LLC has reduced its stake in Agnico Eagle Mines Limited by 54.4%, selling 5,980 shares during the second quarter, leaving them with 5,004 shares valued at approximately $595,000.
• Analysts have forecast positive performance for Agnico Eagle Mines, with a consensus rating of "Buy" and an average price target increase from $170.00 to $173.00 by Bank of America.
• Agnico Eagle Mines reported quarterly earnings of $1.94 per share, exceeding analyst estimates, with a year-over-year revenue increase of 35.6%.

Sapient Capital LLC decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 54.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,004 shares of the mining company's stock after selling 5,980 shares during the quarter. Sapient Capital LLC's holdings in Agnico Eagle Mines were worth $595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Agnico Eagle Mines by 3.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock worth $1,457,160,000 after acquiring an additional 499,362 shares during the last quarter. TD Asset Management Inc grew its position in Agnico Eagle Mines by 42.8% in the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock valued at $978,553,000 after acquiring an additional 2,709,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Agnico Eagle Mines by 11.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock valued at $728,214,000 after acquiring an additional 673,400 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Agnico Eagle Mines by 57.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock valued at $254,029,000 after acquiring an additional 854,924 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Agnico Eagle Mines by 10.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,395 shares of the mining company's stock valued at $214,361,000 after acquiring an additional 189,935 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Trading Up 4.5%

Shares of Agnico Eagle Mines stock traded up $6.91 during trading hours on Friday, reaching $161.29. The stock had a trading volume of 9,137,369 shares, compared to its average volume of 2,976,713. The firm has a 50 day simple moving average of $136.10 and a two-hundred day simple moving average of $121.25. The firm has a market capitalization of $81.10 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 1.03 and a beta of 0.45. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines Limited has a 1 year low of $75.17 and a 1 year high of $162.53.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company's revenue was up 35.6% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Wall Street Analyst Weigh In

AEM has been the subject of several research reports. Royal Bank Of Canada lifted their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Bank of America boosted their target price 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. UBS Group boosted 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. Zacks Research cut Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Finally, National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. 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 company's stock. Based on data from MarketBeat.com, the company currently 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.