J. Safra Sarasin Holding AG Sells 12,247 Shares of Agnico Eagle Mines Limited $AEM

J. Safra Sarasin Holding AG lessened its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 26.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,894 shares of the mining company’s stock after selling 12,247 shares during the period. J. Safra Sarasin Holding AG’s holdings in Agnico Eagle Mines were worth $6,879,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AEM. Norges Bank bought a new position in shares of Agnico Eagle Mines in the 4th quarter worth about $1,367,783,000. Van ECK Associates Corp boosted its stake in Agnico Eagle Mines by 21.6% during the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after acquiring an additional 3,062,705 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in Agnico Eagle Mines in the fourth quarter worth about $194,195,000. Employees Provident Fund Board purchased a new stake in Agnico Eagle Mines in the fourth quarter worth about $183,341,000. Finally, Auto Owners Insurance Co grew its holdings in Agnico Eagle Mines by 16,853.0% in the fourth quarter. Auto Owners Insurance Co now owns 915,462 shares of the mining company’s stock worth $15,520,000 after purchasing an additional 910,062 shares during the period. Institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AEM. Wall Street Zen lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday. TD lifted their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Erste Group Bank cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Finally, Scotia dropped their price objective on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 3rd. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $238.31.

Agnico Eagle Mines Stock Down 2.3%

AEM opened at $143.47 on Tuesday. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 1-year low of $116.83 and a 1-year high of $255.24. The company has a market capitalization of $72.82 billion, a PE ratio of 13.48, a PEG ratio of 1.93 and a beta of 0.60. The firm’s 50 day simple moving average is $169.18 and its two-hundred day simple moving average is $192.66.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.21. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.Agnico Eagle Mines’s revenue for the quarter was up 66.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.53 earnings per share. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 12.44 EPS for the current year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.