Phoenix Financial Ltd. Sells 3,773 Shares of Agnico Eagle Mines Limited $AEM

Phoenix Financial Ltd. trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 43.0% in the 3rd quarter, Holdings Channel reports. The fund owned 4,997 shares of the mining company’s stock after selling 3,773 shares during the quarter. Phoenix Financial Ltd.’s holdings in Agnico Eagle Mines were worth $843,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in Agnico Eagle Mines during the 2nd quarter valued at approximately $938,644,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Agnico Eagle Mines by 38.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock worth $987,398,000 after purchasing an additional 2,319,131 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Agnico Eagle Mines by 48.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock valued at $538,506,000 after purchasing an additional 1,474,385 shares in the last quarter. Invesco Ltd. boosted its position in shares of Agnico Eagle Mines by 53.1% during the second quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock valued at $495,230,000 after buying an additional 1,444,746 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in Agnico Eagle Mines in the 2nd quarter worth about $134,059,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 0.2%

Shares of AEM stock opened at $215.77 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12. Agnico Eagle Mines Limited has a 52-week low of $88.86 and a 52-week high of $223.44. The stock has a fifty day simple moving average of $180.07 and a two-hundred day simple moving average of $160.67. The firm has a market capitalization of $108.03 billion, a PE ratio of 31.50, a PEG ratio of 0.63 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the company earned $1.14 EPS. On average, analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. UBS Group upped their target price on shares of Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, December 1st. Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a research report on Sunday, December 7th. Finally, Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $217.40.

Agnico Eagle Mines Profile

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.