Crescent Grove Advisors LLC Sells 5,188 Shares of Agnico Eagle Mines Limited $AEM

Crescent Grove Advisors LLC lowered its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 19.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,840 shares of the mining company’s stock after selling 5,188 shares during the period. Crescent Grove Advisors LLC’s holdings in Agnico Eagle Mines were worth $3,819,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Cardinal Point Capital Management ULC boosted its position in shares of Agnico Eagle Mines by 8.7% during the 3rd quarter. Cardinal Point Capital Management ULC now owns 77,014 shares of the mining company’s stock valued at $14,146,000 after purchasing an additional 6,178 shares in the last quarter. Sage Private Wealth Group LLC purchased a new position in shares of Agnico Eagle Mines during the third quarter valued at $220,000. Magnus Financial Group LLC acquired a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at about $201,000. Axxcess Wealth Management LLC lifted its position in Agnico Eagle Mines by 10.3% in the 3rd quarter. Axxcess Wealth Management LLC now owns 5,770 shares of the mining company’s stock worth $1,057,000 after buying an additional 541 shares in the last quarter. Finally, Canoe Financial LP lifted its position in Agnico Eagle Mines by 130.5% in the 3rd quarter. Canoe Financial LP now owns 986,414 shares of the mining company’s stock worth $178,066,000 after buying an additional 558,492 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 0.6%

Shares of AEM opened at $187.29 on Thursday. The stock’s 50-day moving average price is $195.46 and its 200 day moving average price is $181.27. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 12-month low of $134.38 and a 12-month high of $255.24. The firm has a market capitalization of $94.95 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 2.75 and a beta of 0.64.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.16. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%. Agnico Eagle Mines’s quarterly revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.94 earnings per share. As a group, research analysts predict that Agnico Eagle Mines Limited will post 11.47 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AEM shares. Weiss Ratings upgraded Agnico Eagle Mines from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, October 14th. Citigroup cut their price target on shares of Agnico Eagle Mines from $256.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Scotia reduced their price objective on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research note on Friday, July 3rd. Wall Street Zen lowered Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Barclays lifted their price target on shares of Agnico Eagle Mines from $188.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and an average target price of $225.23.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian gold mining company engaged in the exploration, development and production of gold, as well as related activities such as mineral processing and mine-site reclamation. The company’s principal product is gold, with silver and other byproducts also recovered from certain operations.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world’s largest gold producers. Its operating portfolio is concentrated in established mining regions, including the Canadian provinces of Ontario and Quebec, Nunavut in northern Canada, and Finland.