Agnico Eagle Mines Ltd (AEM) Stake Decreased by First Manhattan Co.

First Manhattan Co. trimmed its position in Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 6.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,640 shares of the mining company’s stock after selling 1,950 shares during the period. First Manhattan Co.’s holdings in Agnico Eagle Mines were worth $1,158,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in Agnico Eagle Mines by 278.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,668,472 shares of the mining company’s stock worth $125,461,000 after purchasing an additional 2,699,518 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Agnico Eagle Mines by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 938,653 shares of the mining company’s stock worth $32,102,000 after buying an additional 14,034 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Agnico Eagle Mines by 119.0% during the third quarter. Dimensional Fund Advisors LP now owns 470,186 shares of the mining company’s stock worth $16,080,000 after purchasing an additional 255,488 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Agnico Eagle Mines by 37.7% during the third quarter. Mackenzie Financial Corp now owns 910,230 shares of the mining company’s stock worth $31,130,000 after purchasing an additional 249,008 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in shares of Agnico Eagle Mines by 13.5% during the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 430,100 shares of the mining company’s stock worth $18,976,000 after purchasing an additional 51,100 shares in the last quarter. Institutional investors own 60.92% of the company’s stock.

Several research firms have weighed in on AEM. CIBC reiterated a “buy” rating and issued a $57.50 target price on shares of Agnico Eagle Mines in a report on Friday, April 5th. Zacks Investment Research raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Wednesday, January 23rd. Barclays cut shares of Agnico Eagle Mines from an “overweight” rating to an “equal weight” rating and set a $43.60 price objective for the company. in a research note on Tuesday, April 9th. ValuEngine cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Finally, Desjardins lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Agnico Eagle Mines presently has a consensus rating of “Buy” and a consensus price target of $50.61.

Shares of Agnico Eagle Mines stock opened at $41.70 on Wednesday. Agnico Eagle Mines Ltd has a 12-month low of $32.18 and a 12-month high of $47.83. The stock has a market capitalization of $10.09 billion, a PE ratio of 138.42, a PEG ratio of 93.87 and a beta of -0.49. The company has a current ratio of 2.97, a quick ratio of 1.60 and a debt-to-equity ratio of 0.38.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, February 14th. The mining company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.11. The business had revenue of $537.82 million for the quarter, compared to the consensus estimate of $509.39 million. Agnico Eagle Mines had a negative net margin of 14.91% and a positive return on equity of 1.48%. During the same period last year, the firm posted $0.21 earnings per share. On average, analysts anticipate that Agnico Eagle Mines Ltd will post 0.46 earnings per share for the current year.

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About Agnico Eagle Mines

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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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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