Washington Capital Management Inc. Has $2.35 Million Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Washington Capital Management Inc. has reduced its stake in Agnico Eagle Mines Limited by 7.3%, holding a position worth $2.35 million as of its latest SEC filing.
• Agnico Eagle Mines reported an EPS of $1.94 for the last quarter, surpassing analysts' expectations of $1.83, with revenues increasing 35.6% year-over-year.
• Analysts have largely favorable views on Agnico Eagle Mines, with a consensus rating of "Buy" and a target price of $141.40, reflecting strong market interest.

Washington Capital Management Inc. reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 7.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,780 shares of the mining company's stock after selling 1,550 shares during the quarter. Agnico Eagle Mines makes up 1.7% of Washington Capital Management Inc.'s holdings, making the stock its 7th largest position. Washington Capital Management Inc.'s holdings in Agnico Eagle Mines were worth $2,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AEM. TD Asset Management Inc boosted its holdings in shares of 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 buying an additional 2,709,005 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Agnico Eagle Mines by 57.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company's stock worth $254,029,000 after acquiring an additional 854,924 shares in the last quarter. Nuveen LLC purchased a new stake in Agnico Eagle Mines during the first quarter valued at approximately $85,926,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Agnico Eagle Mines by 11.1% in the first 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. Finally, Addenda Capital Inc. grew its holdings in Agnico Eagle Mines by 413.8% in the first quarter. Addenda Capital Inc. now owns 713,237 shares of the mining company's stock worth $77,322,000 after purchasing an additional 574,420 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Up 2.2%

Agnico Eagle Mines stock opened at $163.47 on Monday. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $164.64. The company has a market capitalization of $82.19 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.10 and a beta of 0.44. The stock has a 50-day moving average price of $141.14 and a 200 day moving average price of $124.15.

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 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company's revenue was up 35.6% compared to the same quarter last year. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Bank of America upped their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. UBS Group raised their price target on Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Finally, CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of "Buy" and a consensus 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.

Want to see what other hedge funds are holding AEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM.

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.