Sprott Inc. Cuts Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Sprott Inc. trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,389,132 shares of the mining company's stock after selling 23,168 shares during the quarter. Agnico Eagle Mines comprises about 6.9% of Sprott Inc.'s investment portfolio, making the stock its largest holding. Sprott Inc. owned approximately 0.28% of Agnico Eagle Mines worth $76,203,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Natixis Advisors L.P. raised its stake in Agnico Eagle Mines by 1.3% in the third quarter. Natixis Advisors L.P. now owns 18,206 shares of the mining company's stock valued at $827,000 after buying an additional 242 shares during the last quarter. Avantax Advisory Services Inc. grew its position in Agnico Eagle Mines by 2.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 16,031 shares of the mining company's stock worth $879,000 after purchasing an additional 339 shares during the last quarter. Chilton Capital Management LLC increased its stake in Agnico Eagle Mines by 13.3% during the 4th quarter. Chilton Capital Management LLC now owns 3,191 shares of the mining company's stock valued at $175,000 after purchasing an additional 375 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Agnico Eagle Mines by 1.9% in the fourth quarter. Advisory Services Network LLC now owns 19,974 shares of the mining company's stock worth $1,096,000 after buying an additional 380 shares during the last quarter. Finally, Violich Capital Management Inc. lifted its stake in shares of Agnico Eagle Mines by 2.0% during the fourth quarter. Violich Capital Management Inc. now owns 21,354 shares of the mining company's stock worth $1,171,000 after buying an additional 425 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AEM shares. National Bank Financial restated an "outperform overweight" rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Scotiabank raised their price target on shares of Agnico Eagle Mines from $71.00 to $81.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 23rd. BMO Capital Markets increased their price objective on shares of Agnico Eagle Mines from $78.00 to $79.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 21st. TD Securities raised their target price on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a "buy" rating in a report on Tuesday, April 30th. Finally, Jefferies Financial Group boosted their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a "hold" rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.22.

Agnico Eagle Mines Price Performance

AEM traded down $4.89 during midday trading on Friday, hitting $63.80. 4,480,723 shares of the company traded hands, compared to its average volume of 2,199,750. The business has a 50 day simple moving average of $65.32 and a two-hundred day simple moving average of $56.63. Agnico Eagle Mines Limited has a 52-week low of $43.22 and a 52-week high of $71.50. The company has a market capitalization of $31.86 billion, a price-to-earnings ratio of 67.16, a PEG ratio of 0.66 and a beta of 1.11. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

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