Employees Retirement System of Texas Lowers Stock Position in Agnico Eagle Mines Limited $AEM

Employees Retirement System of Texas lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 20.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,471 shares of the mining company’s stock after selling 9,037 shares during the quarter. Employees Retirement System of Texas’ holdings in Agnico Eagle Mines were worth $5,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AEM. MCF Advisors LLC purchased a new position in Agnico Eagle Mines during the third quarter valued at $34,000. Abound Wealth Management raised its position in shares of Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares during the last quarter. Lodestone Wealth Management LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth about $35,000. Caitlin John LLC purchased a new position in shares of Agnico Eagle Mines in the 3rd quarter worth about $36,000. Finally, Bangor Savings Bank purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AEM shares. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. UBS Group lowered their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. Scotiabank reaffirmed an “outperform” rating and issued a $280.00 price target on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Barclays started coverage on Agnico Eagle Mines in a research report on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price target for the company. Finally, TD lifted their price target on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.08.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $174.98 on Thursday. Agnico Eagle Mines Limited has a one year low of $114.60 and a one year high of $255.24. The stock has a 50-day moving average of $195.87 and a 200 day moving average of $194.34. The company has a market capitalization of $87.57 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 3.94 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the company earned $1.53 EPS. Agnico Eagle Mines’s revenue for the quarter was up 66.1% on a year-over-year basis. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 13.14 EPS for the current 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.