Scotia Capital Inc. Sells 3,110 Shares of Agnico Eagle Mines Ltd (NYSE:AEM)

Scotia Capital Inc. lessened its holdings in shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,040 shares of the mining company’s stock after selling 3,110 shares during the quarter. Scotia Capital Inc.’s holdings in Agnico Eagle Mines were worth $3,531,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AEM. Advisory Services Network LLC acquired a new position in Agnico Eagle Mines during the second quarter valued at approximately $26,000. Carroll Financial Associates Inc. grew its stake in shares of Agnico Eagle Mines by 64.0% in the second quarter. Carroll Financial Associates Inc. now owns 546 shares of the mining company’s stock worth $27,000 after acquiring an additional 213 shares during the last quarter. SeaBridge Investment Advisors LLC grew its stake in shares of Agnico Eagle Mines by 66.7% in the second quarter. SeaBridge Investment Advisors LLC now owns 1,000 shares of the mining company’s stock worth $51,000 after acquiring an additional 400 shares during the last quarter. Tyers Asset Management LLC grew its stake in shares of Agnico Eagle Mines by 25.0% in the second quarter. Tyers Asset Management LLC now owns 1,680 shares of the mining company’s stock worth $83,000 after acquiring an additional 336 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Agnico Eagle Mines by 36.2% in the first quarter. Signaturefd LLC now owns 1,743 shares of the mining company’s stock worth $76,000 after acquiring an additional 463 shares during the last quarter. 61.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE AEM traded down $0.85 during midday trading on Friday, reaching $55.74. 215,007 shares of the company traded hands, compared to its average volume of 1,506,426. The firm has a market cap of $13.54 billion, a PE ratio of 145.36, a PEG ratio of 71.01 and a beta of -0.49. The stock’s 50-day simple moving average is $58.68 and its 200-day simple moving average is $48.34. Agnico Eagle Mines Ltd has a 12 month low of $32.97 and a 12 month high of $64.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 24th. The mining company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.07. The company had revenue of $526.60 million during the quarter, compared to analysts’ expectations of $490.93 million. Agnico Eagle Mines had a positive return on equity of 1.92% and a negative net margin of 14.74%. The business’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share. On average, equities research analysts expect that Agnico Eagle Mines Ltd will post 0.8 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.58%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, August 29th.

Several brokerages have recently issued reports on AEM. ValuEngine upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Monday, May 20th. Citigroup raised their target price on Agnico Eagle Mines from $55.00 to $64.00 and gave the stock a “neutral” rating in a research report on Wednesday. Raymond James raised their target price on Agnico Eagle Mines from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. CIBC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Agnico Eagle Mines in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on Agnico Eagle Mines from $68.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $59.26.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

Further Reading: What can cause a stock to outperform?

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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