Agnico Eagle Mines Limited $AEM Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 24.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 314,302 shares of the mining company’s stock after selling 104,228 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Agnico Eagle Mines were worth $57,691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its position in shares of Agnico Eagle Mines by 3.0% during the 3rd quarter. Parallel Advisors LLC now owns 2,323 shares of the mining company’s stock worth $426,000 after buying an additional 67 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co boosted its holdings in shares of Agnico Eagle Mines by 6.9% in the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 1,400 shares of the mining company’s stock valued at $257,000 after buying an additional 90 shares in the last quarter. May Hill Capital LLC grew its position in shares of Agnico Eagle Mines by 6.3% in the 3rd quarter. May Hill Capital LLC now owns 1,879 shares of the mining company’s stock valued at $344,000 after buying an additional 111 shares during the last quarter. CenterBook Partners LP purchased a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at $242,000. Finally, Asset One Wealth Management LLC grew its position in shares of Agnico Eagle Mines by 15.0% in the 3rd quarter. Asset One Wealth Management LLC now owns 8,848 shares of the mining company’s stock valued at $1,622,000 after buying an additional 1,157 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup cut their price target on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Agnico Eagle Mines from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, October 14th. Freedom Broker raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $212.00 price objective on the stock in a report on Monday, November 2nd. JPMorgan Chase & Co. lifted their target price on Agnico Eagle Mines from $190.00 to $193.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Finally, Scotiabank reduced their target price on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average price target of $227.00.

Agnico Eagle Mines Price Performance

AEM stock opened at $200.58 on Tuesday. The company has a market capitalization of $101.47 billion, a P/E ratio of 16.36, a PEG ratio of 2.79 and a beta of 0.69. Agnico Eagle Mines Limited has a twelve month low of $134.38 and a twelve month high of $255.24. The business has a 50 day simple moving average of $188.86 and a 200-day simple moving average of $188.93. The company has a current ratio of 2.75, a quick ratio of 1.90 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, October 28th. The mining company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.15. Agnico Eagle Mines had a net margin of 41.01% and a return on equity of 21.68%. The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the company posted $2.10 EPS. The company’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 11.42 EPS for the current year.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.