Dimensional Fund Advisors LP reduced its stake in Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 19.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,698 shares of the mining company’s stock after selling 52,149 shares during the period. Dimensional Fund Advisors LP owned about 0.09% of Agnico Eagle Mines worth $9,840,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Sei Investments Co. increased its stake in shares of Agnico Eagle Mines by 160.2% during the second quarter. Sei Investments Co. now owns 3,562 shares of the mining company’s stock valued at $163,000 after buying an additional 2,193 shares during the period. US Bancorp DE increased its stake in shares of Agnico Eagle Mines by 54.5% during the second quarter. US Bancorp DE now owns 3,750 shares of the mining company’s stock valued at $171,000 after buying an additional 1,323 shares during the period. Pendal Group Ltd increased its stake in shares of Agnico Eagle Mines by 97.1% during the second quarter. Pendal Group Ltd now owns 3,939 shares of the mining company’s stock valued at $181,000 after buying an additional 1,941 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Agnico Eagle Mines during the second quarter valued at approximately $206,000. Finally, Wetherby Asset Management Inc. purchased a new position in shares of Agnico Eagle Mines during the second quarter valued at approximately $211,000. 60.34% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on AEM shares. TheStreet cut Agnico Eagle Mines from a “b-” rating to a “c+” rating in a research note on Wednesday, September 5th. Citigroup reduced their target price on Agnico Eagle Mines from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 29th. JPMorgan Chase & Co. reduced their target price on Agnico Eagle Mines from $65.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, September 17th. Credit Suisse Group reissued an “outperform” rating on shares of Agnico Eagle Mines in a research note on Monday, September 10th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $54.00 target price on shares of Agnico Eagle Mines in a research note on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $55.17.
Shares of AEM stock opened at $37.02 on Friday. The firm has a market capitalization of $8.62 billion, a P/E ratio of 33.27 and a beta of -0.53. Agnico Eagle Mines Ltd has a twelve month low of $32.18 and a twelve month high of $49.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.83 and a current ratio of 4.02.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, July 25th. The mining company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.07). The firm had revenue of $556.28 million during the quarter, compared to analysts’ expectations of $536.81 million. Agnico Eagle Mines had a return on equity of 3.07% and a net margin of 6.84%. Agnico Eagle Mines’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. As a group, equities analysts anticipate that Agnico Eagle Mines Ltd will post 0.16 earnings per share for the current fiscal year.
Agnico Eagle Mines Profile
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
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