Van ECK Associates Corp Trims Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Van ECK Associates Corp decreased its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,543,940 shares of the mining company's stock after selling 776,145 shares during the period. Agnico Eagle Mines accounts for approximately 2.1% of Van ECK Associates Corp's holdings, making the stock its 6th largest position. Van ECK Associates Corp owned approximately 4.31% of Agnico Eagle Mines worth $1,908,947,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Sapient Capital LLC lifted its position in Agnico Eagle Mines by 1.3% during the third quarter. Sapient Capital LLC now owns 11,001 shares of the mining company's stock worth $886,000 after acquiring an additional 145 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Agnico Eagle Mines by 2.2% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,217 shares of the mining company's stock worth $472,000 after acquiring an additional 158 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its position in Agnico Eagle Mines by 0.3% during the second quarter. Azzad Asset Management Inc. ADV now owns 61,820 shares of the mining company's stock worth $4,043,000 after acquiring an additional 189 shares during the last quarter. Lombard Odier Asset Management Europe Ltd lifted its position in Agnico Eagle Mines by 0.4% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,651 shares of the mining company's stock worth $3,248,000 after acquiring an additional 190 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its position in Agnico Eagle Mines by 4.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 4,192 shares of the mining company's stock worth $269,000 after acquiring an additional 192 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AEM. TD Securities lifted their price objective on shares of Agnico Eagle Mines from $90.00 to $91.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. CIBC lifted their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the company an "outperformer" rating in a research note on Wednesday, July 10th. Jefferies Financial Group lifted their price objective on shares of Agnico Eagle Mines from $68.00 to $85.00 and gave the company a "hold" rating in a research note on Friday, October 4th. UBS Group started coverage on shares of Agnico Eagle Mines in a research note on Tuesday, September 17th. They issued a "buy" rating and a $95.00 price objective on the stock. Finally, Royal Bank of Canada lifted their price objective on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.78.

Agnico Eagle Mines Stock Down 0.6 %

Shares of NYSE AEM traded down $0.49 during trading on Friday, hitting $85.80. 1,844,703 shares of the company traded hands, compared to its average volume of 2,381,222. The business's fifty day moving average is $82.30 and its 200 day moving average is $74.22. Agnico Eagle Mines Limited has a fifty-two week low of $44.37 and a fifty-two week high of $89.00. The firm has a market capitalization of $43.05 billion, a price-to-earnings ratio of 42.90, a P/E/G ratio of 0.76 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.75.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its earnings results on Wednesday, July 31st. The mining company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.93 by $0.14. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 8.88%. The firm's revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. Equities research analysts predict that Agnico Eagle Mines Limited will post 4.02 earnings per share for the current fiscal year.

Agnico Eagle Mines Company Profile

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.