Gunderson Capital Management Inc. Trims Position in Agnico Eagle Mines Limited $AEM

Gunderson Capital Management Inc. lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 29.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,726 shares of the mining company’s stock after selling 6,972 shares during the period. Gunderson Capital Management Inc.’s holdings in Agnico Eagle Mines were worth $2,819,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Agnico Eagle Mines in the 2nd quarter worth about $938,644,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Agnico Eagle Mines by 38.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after acquiring 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 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock worth $538,506,000 after acquiring an additional 1,474,385 shares during the period. Invesco Ltd. boosted its position in shares of Agnico Eagle Mines by 53.1% in the second quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock worth $495,230,000 after acquiring an additional 1,444,746 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Agnico Eagle Mines in the second quarter worth approximately $134,059,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AEM. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. UBS Group upped their price objective on Agnico Eagle Mines from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, December 1st. CIBC increased their target price on Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Royal Bank Of Canada cut Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $185.00 to $205.00 in a report on Wednesday, December 10th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Agnico Eagle Mines in a research report on Monday, December 29th. Six research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $201.60.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $180.61 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. Agnico Eagle Mines Limited has a 1-year low of $80.58 and a 1-year high of $187.50. The company has a market capitalization of $90.62 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 0.51 and a beta of 0.63. The business has a 50-day moving average of $168.83 and a 200-day moving average of $152.02.

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

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.