Oppenheimer & Close LLC Sells 9,665 Shares of Agnico Eagle Mines Limited $AEM

Oppenheimer & Close LLC trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 17.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,331 shares of the mining company’s stock after selling 9,665 shares during the quarter. Agnico Eagle Mines accounts for 5.5% of Oppenheimer & Close LLC’s investment portfolio, making the stock its 2nd largest holding. Oppenheimer & Close LLC’s holdings in Agnico Eagle Mines were worth $8,024,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Agnico Eagle Mines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock worth $3,557,772,000 after purchasing an additional 309,717 shares during the period. Capital World Investors raised its position in shares of Agnico Eagle Mines by 20.0% during the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after purchasing an additional 3,462,968 shares during the period. TD Asset Management Inc raised its position in shares of Agnico Eagle Mines by 1.5% during the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after purchasing an additional 143,645 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Agnico Eagle Mines by 3.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 8,589,745 shares of the mining company’s stock worth $1,447,494,000 after purchasing an additional 292,949 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Agnico Eagle Mines by 0.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,392,420 shares of the mining company’s stock worth $1,076,423,000 after purchasing an additional 44,597 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

AEM stock opened at $183.56 on Friday. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. The firm has a market cap of $91.87 billion, a PE ratio of 17.25, a P/E/G ratio of 3.88 and a beta of 0.58. The business has a 50 day moving average of $195.01 and a 200-day moving average of $194.38. Agnico Eagle Mines Limited has a 12-month low of $114.60 and a 12-month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.Agnico Eagle Mines’s quarterly revenue was up 66.1% compared to the same quarter last year. During the same period last year, the company posted $1.53 earnings per share. As a group, sell-side analysts expect that Agnico Eagle Mines Limited will post 13.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. Erste Group Bank lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Company 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.