Agnico Eagle Mines Limited $AEM Stake Lessened by NBT Bank N A NY

NBT Bank N A NY lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,927 shares of the mining company’s stock after selling 1,114 shares during the period. NBT Bank N A NY’s holdings in Agnico Eagle Mines were worth $1,062,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its holdings in shares of Agnico Eagle Mines by 3.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company’s stock valued at $1,457,160,000 after purchasing an additional 499,362 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Agnico Eagle Mines by 42.8% in the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock valued at $978,553,000 after purchasing an additional 2,709,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Agnico Eagle Mines by 11.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company’s stock valued at $728,214,000 after purchasing an additional 673,400 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Agnico Eagle Mines by 57.4% in the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock valued at $254,029,000 after purchasing an additional 854,924 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Agnico Eagle Mines by 10.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,977,395 shares of the mining company’s stock worth $214,361,000 after acquiring an additional 189,935 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AEM. Weiss Ratings reiterated a “buy (a)” rating on shares of Agnico Eagle Mines in a report on Wednesday. Bank of America increased their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Zacks Research upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Lake Street Capital reiterated a “buy” rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Finally, CIBC reiterated an “outperform” rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Six research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $150.30.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $169.63 on Thursday. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $172.21. The stock’s 50-day moving average is $148.04 and its two-hundred day moving average is $127.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The firm has a market cap of $85.29 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 1.11 and a beta of 0.46.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the company earned $1.07 earnings per share. The business’s revenue was up 35.6% compared to the same quarter last year. On average, analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.