Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by General American Investors Co. Inc.

General American Investors Co. Inc. cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 485,000 shares of the mining company’s stock after selling 53,858 shares during the quarter. Agnico Eagle Mines comprises 2.2% of General American Investors Co. Inc.’s investment portfolio, making the stock its 13th biggest position. General American Investors Co. Inc.’s holdings in Agnico Eagle Mines were worth $31,719,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Continuum Advisory LLC grew its holdings in Agnico Eagle Mines by 1,134.4% in the 2nd quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock valued at $26,000 after buying an additional 363 shares in the last quarter. Stephens Consulting LLC purchased a new position in Agnico Eagle Mines during the first quarter worth about $30,000. Janiczek Wealth Management LLC raised its stake in shares of Agnico Eagle Mines by 406.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after acquiring an additional 569 shares during the period. WASHINGTON TRUST Co boosted its position in shares of Agnico Eagle Mines by 92.1% during the 2nd quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after purchasing an additional 350 shares during the period. Finally, ORG Partners LLC purchased a new position in shares of Agnico Eagle Mines during the second quarter worth $52,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $76.89 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.51 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52 week low of $43.22 and a 52 week high of $83.50. The firm’s 50 day moving average is $75.93 and its two-hundred day moving average is $66.60. The firm has a market capitalization of $38.47 billion, a P/E ratio of 80.94, a P/E/G ratio of 0.79 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, July 31st. The mining company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a net margin of 8.44% and a return on equity of 7.16%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company posted $0.65 EPS. Agnico Eagle Mines’s revenue was up 20.9% compared to the same quarter last year. Research analysts forecast that Agnico Eagle Mines Limited will post 3.65 EPS for the current fiscal year.

Analyst Ratings Changes

AEM has been the topic of several research analyst reports. TD Securities boosted their price objective on Agnico Eagle Mines from $90.00 to $91.00 and gave the company a “buy” rating in a report on Friday, August 2nd. CIBC raised 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. StockNews.com raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Scotiabank raised their price target on shares of Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group upped their price objective on Agnico Eagle Mines from $59.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.86.

Agnico Eagle Mines 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.