Scout Investments Inc. Reduces Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Scout Investments Inc. reduced its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 38.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,376 shares of the mining company's stock after selling 158,552 shares during the quarter. Scout Investments Inc. owned 0.05% of Agnico Eagle Mines worth $13,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in Agnico Eagle Mines by 9.5% in the fourth quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company's stock valued at $1,264,791,000 after acquiring an additional 1,995,127 shares during the period. Vanguard Group Inc. lifted its holdings in Agnico Eagle Mines by 1.6% in the third quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company's stock valued at $782,855,000 after acquiring an additional 278,647 shares during the period. Mackenzie Financial Corp lifted its holdings in Agnico Eagle Mines by 0.4% in the fourth quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company's stock valued at $538,193,000 after acquiring an additional 41,068 shares during the period. Capital World Investors lifted its holdings in Agnico Eagle Mines by 12.0% in the fourth quarter. Capital World Investors now owns 9,690,000 shares of the mining company's stock valued at $531,284,000 after acquiring an additional 1,034,721 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Agnico Eagle Mines by 8.6% in the third quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company's stock valued at $383,555,000 after acquiring an additional 665,356 shares during the period. Institutional investors own 68.34% of the company's stock.

Analysts Set New Price Targets

AEM has been the subject of a number of analyst reports. Citigroup upped their price target on Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, April 30th. National Bank Financial restated an "outperform overweight" rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. BMO Capital Markets upped their price target on Agnico Eagle Mines from $78.00 to $79.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 21st. Jefferies Financial Group upped their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a "hold" rating in a research report on Monday, April 22nd. Finally, CIBC upped their price target on Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $72.22.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded down $4.89 during trading on Friday, hitting $63.80. 4,480,723 shares of the company's stock were exchanged, compared to its average volume of 2,199,750. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88. Agnico Eagle Mines Limited has a 52-week low of $43.22 and a 52-week high of $71.50. The business's 50-day simple moving average is $65.32 and its 200 day simple moving average is $56.58. The company has a market cap of $31.86 billion, a price-to-earnings ratio of 67.16, a PEG ratio of 0.71 and a beta of 1.11.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.16. The business had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 3.2 EPS for the current year.

About Agnico Eagle Mines

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.