First Interstate Bank Decreases Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

First Interstate Bank lessened its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,479 shares of the mining company’s stock after selling 300 shares during the quarter. First Interstate Bank’s holdings in Agnico Eagle Mines were worth $1,166,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Continuum Advisory LLC raised its stake in Agnico Eagle Mines by 1,134.4% during the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after acquiring an additional 363 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines during the third quarter worth about $32,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines in the 2nd quarter valued at about $32,000. McClarren Financial Advisors Inc. boosted its position in shares of Agnico Eagle Mines by 684.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 510 shares of the mining company’s stock valued at $41,000 after purchasing an additional 445 shares during the period. Finally, WASHINGTON TRUST Co grew its stake in Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after buying an additional 350 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

AEM traded down $0.49 on Friday, hitting $85.80. 1,844,703 shares of the company were exchanged, compared to its average volume of 2,663,666. Agnico Eagle Mines Limited has a fifty-two week low of $44.37 and a fifty-two week high of $89.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.51. The firm has a market capitalization of $43.05 billion, a P/E ratio of 42.90, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10. The business’s fifty day moving average is $82.30 and its 200 day moving average is $74.13.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.14. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Agnico Eagle Mines had a return on equity of 8.98% and a net margin of 12.86%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.01 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on AEM. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, October 4th. UBS Group began coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They set a “buy” rating and a $95.00 target price for the company. Royal Bank of Canada boosted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Scotiabank lifted their price objective on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, CIBC boosted their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus price target of $86.78.

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.