Wellington Management Group LLP Has $27.38 Million Stock Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Wellington Management Group LLP reduced its stake in Agnico Eagle Mines by 14.3%, selling 42,151 shares and retaining 252,648 shares, worth approximately $27.4 million.
• Agnico Eagle Mines reported impressive earnings of $1.94 EPS for the last quarter, beating estimates by $0.11 and achieving a revenue growth of 35.6% year-over-year.
• Analysts have a consensus rating of "Buy" for Agnico Eagle Mines, with price targets raised by firms including Bank of America and TD Securities.

Wellington Management Group LLP decreased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 14.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 252,648 shares of the mining company's stock after selling 42,151 shares during the period. Wellington Management Group LLP owned 0.05% of Agnico Eagle Mines worth $27,381,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Muhlenkamp & Co. Inc. increased its holdings in shares of Agnico Eagle Mines by 0.5% during the 1st quarter. Muhlenkamp & Co. Inc. now owns 151,252 shares of the mining company's stock valued at $16,397,000 after acquiring an additional 720 shares during the last quarter. Qtron Investments LLC grew its holdings in Agnico Eagle Mines by 9.0% in the 1st quarter. Qtron Investments LLC now owns 15,039 shares of the mining company's stock valued at $1,629,000 after buying an additional 1,237 shares during the last quarter. Northern Trust Corp grew its holdings in Agnico Eagle Mines by 8.7% in the 1st quarter. Northern Trust Corp now owns 456,247 shares of the mining company's stock valued at $49,462,000 after buying an additional 36,420 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Agnico Eagle Mines in the 1st quarter valued at approximately $293,000. Finally, Elequin Capital LP grew its holdings in Agnico Eagle Mines by 63.7% in the 1st quarter. Elequin Capital LP now owns 419 shares of the mining company's stock valued at $45,000 after buying an additional 163 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of AEM stock traded up $5.15 during mid-day trading on Friday, reaching $144.26. The stock had a trading volume of 1,791,133 shares, compared to its average volume of 2,915,817. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The firm has a market cap of $72.53 billion, a PE ratio of 24.51, a P/E/G ratio of 0.96 and a beta of 0.44. Agnico Eagle Mines Limited has a one year low of $75.17 and a one year high of $144.32. The firm's 50 day simple moving average is $126.63 and its 200 day simple moving average is $115.68.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly 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 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 quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 EPS. On average, analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AEM. CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a report on Monday, June 30th. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Bank of America raised their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Five research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $136.90.

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.