Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Tevis Investment Management

Tevis Investment Management reduced its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 20.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,170 shares of the mining company's stock after selling 10,560 shares during the quarter. Agnico Eagle Mines comprises 2.5% of Tevis Investment Management's portfolio, making the stock its 8th biggest holding. Tevis Investment Management's holdings in Agnico Eagle Mines were worth $3,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Van ECK Associates Corp grew its position in shares of Agnico Eagle Mines by 0.3% in the second quarter. Van ECK Associates Corp now owns 22,320,085 shares of the mining company's stock valued at $1,459,741,000 after purchasing an additional 58,681 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Agnico Eagle Mines by 1.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 13,281,926 shares of the mining company's stock worth $868,638,000 after buying an additional 134,872 shares in the last quarter. Capital World Investors grew its position in Agnico Eagle Mines by 0.8% during the first quarter. Capital World Investors now owns 9,769,275 shares of the mining company's stock worth $582,529,000 after buying an additional 79,275 shares in the last quarter. First Eagle Investment Management LLC grew its position in Agnico Eagle Mines by 10.8% during the first quarter. First Eagle Investment Management LLC now owns 6,891,385 shares of the mining company's stock worth $411,106,000 after buying an additional 672,503 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Agnico Eagle Mines by 4.1% during the second quarter. CIBC Asset Management Inc now owns 6,083,606 shares of the mining company's stock worth $397,657,000 after buying an additional 237,347 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded down $1.96 during trading on Thursday, reaching $86.28. The stock had a trading volume of 3,690,345 shares, compared to its average volume of 2,667,990. Agnico Eagle Mines Limited has a 52 week low of $44.37 and a 52 week high of $89.00. The business's 50-day moving average price is $82.24 and its 200 day moving average price is $73.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.51 and a quick ratio of 0.76. The stock has a market capitalization of $43.16 billion, a PE ratio of 90.82, a P/E/G ratio of 0.71 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its earnings results on Wednesday, October 30th. The mining company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.16. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $1.83 billion. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 3.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada lifted their target price on Agnico Eagle Mines from $80.00 to $87.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. CIBC lifted their target price on Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an "outperformer" rating in a research report on Wednesday, July 10th. UBS Group assumed coverage on Agnico Eagle Mines in a research report on Tuesday, September 17th. They set a "buy" rating and a $95.00 target price on the stock. Jefferies Financial Group lifted their target price on Agnico Eagle Mines from $68.00 to $85.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. Finally, Scotiabank raised their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Agnico Eagle Mines currently has an average rating of "Moderate Buy" and an average target price of $86.78.

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.