Agnico Eagle Mines Limited $AEM Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 993,996 shares of the mining company’s stock after selling 29,867 shares during the quarter. Franklin Resources Inc.’s holdings in Agnico Eagle Mines were worth $168,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in AEM. Abound Wealth Management boosted its holdings in Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares during the period. Lodestone Wealth Management LLC acquired a new position in Agnico Eagle Mines in the fourth quarter worth $35,000. Caitlin John LLC acquired a new position in Agnico Eagle Mines in the third quarter worth $36,000. Bangor Savings Bank acquired a new position in Agnico Eagle Mines in the fourth quarter worth $37,000. Finally, Addison Advisors LLC boosted its holdings in Agnico Eagle Mines by 94.1% in the third quarter. Addison Advisors LLC now owns 229 shares of the mining company’s stock worth $39,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AEM shares. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. TD lifted their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price objective on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. UBS Group decreased their price objective on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a report on Friday, March 27th. Finally, Erste Group Bank downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $159.65 on Wednesday. Agnico Eagle Mines Limited has a 1 year low of $114.60 and a 1 year high of $255.24. The company has a market cap of $79.90 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 3.57 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The firm has a fifty day moving average of $192.71 and a 200-day moving average of $194.65.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. The company’s revenue for the quarter was up 66.1% compared to the same quarter last year. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 13.18 earnings per share for the current year.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.