Agnico Eagle Mines Limited (NYSE:AEM) Short Interest Down 21.9% in December

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) was the recipient of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 5,448,500 shares, a decline of 21.9% from the November 30th total of 6,971,964 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 2,369,733 shares, the days-to-cover ratio is presently 2.3 days. Based on an average daily trading volume, of 2,369,733 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.1% of the company’s shares are short sold.

Agnico Eagle Mines Trading Down 1.3%

Shares of AEM stock traded down $2.29 during trading hours on Wednesday, hitting $169.55. 1,224,771 shares of the company were exchanged, compared to its average volume of 2,407,016. The company has a 50 day simple moving average of $167.71 and a two-hundred day simple moving average of $150.39. The firm has a market cap of $85.07 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.62 and a beta of 0.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12. Agnico Eagle Mines has a fifty-two week low of $77.14 and a fifty-two week high of $187.50.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. During the same quarter in the previous year, the company earned $1.14 EPS. Equities analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 30th. UBS Group upped their target price on Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, December 1st. TD Securities raised their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $185.00 to $205.00 in a research report on Wednesday, December 10th. Six analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and a consensus price target of $201.60.

Institutional Trading of Agnico Eagle Mines

Large investors have recently made changes to their positions in the company. Capital World Investors boosted its holdings in Agnico Eagle Mines by 20.0% in the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after acquiring an additional 3,462,968 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Agnico Eagle Mines by 1.2% during the third quarter. Vanguard Group Inc. now owns 20,669,949 shares of the mining company’s stock worth $3,481,382,000 after purchasing an additional 252,043 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Agnico Eagle Mines by 5.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock worth $1,974,242,000 after purchasing an additional 602,489 shares in the last quarter. TD Asset Management Inc grew its position in Agnico Eagle Mines by 1.5% in the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock valued at $1,600,436,000 after purchasing an additional 143,645 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Agnico Eagle Mines by 1.9% during the 2nd quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock valued at $1,046,468,000 after purchasing an additional 160,650 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Company 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.