General American Investors Co. Inc. Lowers Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

General American Investors Co. Inc. reduced its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 485,000 shares of the mining company’s stock after selling 53,858 shares during the quarter. Agnico Eagle Mines comprises about 2.2% of General American Investors Co. Inc.’s portfolio, making the stock its 13th biggest position. General American Investors Co. Inc. owned 0.10% of Agnico Eagle Mines worth $31,719,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Continuum Advisory LLC lifted its position in shares of Agnico Eagle Mines by 1,134.4% in the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after purchasing an additional 363 shares during the period. Stephens Consulting LLC bought a new stake in Agnico Eagle Mines during the first quarter valued at about $30,000. Janiczek Wealth Management LLC grew its stake in Agnico Eagle Mines by 406.4% in the first quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after purchasing an additional 569 shares during the last quarter. WASHINGTON TRUST Co lifted its position in shares of Agnico Eagle Mines by 92.1% during the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock valued at $48,000 after buying an additional 350 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in shares of Agnico Eagle Mines during the second quarter valued at about $52,000. 68.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the subject of several analyst reports. BMO Capital Markets decreased their price objective on Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. StockNews.com raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. TD Securities upped their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. CIBC raised their target price on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a report on Friday, July 12th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.86.

Agnico Eagle Mines Trading Down 2.3 %

Shares of Agnico Eagle Mines stock opened at $76.89 on Friday. Agnico Eagle Mines Limited has a fifty-two week low of $43.22 and a fifty-two week high of $83.50. 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 company has a market cap of $38.47 billion, a P/E ratio of 80.94, a price-to-earnings-growth ratio of 0.79 and a beta of 1.06. The firm has a 50-day simple moving average of $75.93 and a two-hundred day simple moving average of $66.60.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 3.65 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.