Alliancebernstein L.P. cut its stake in Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 64.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 387,838 shares of the mining company’s stock after selling 689,856 shares during the period. Alliancebernstein L.P.’s holdings in Agnico Eagle Mines were worth $13,264,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in Agnico Eagle Mines by 160.2% in the second quarter. Sei Investments Co. now owns 3,562 shares of the mining company’s stock valued at $163,000 after purchasing an additional 2,193 shares during the period. US Bancorp DE boosted its holdings in Agnico Eagle Mines by 54.5% in the second quarter. US Bancorp DE now owns 3,750 shares of the mining company’s stock valued at $171,000 after purchasing an additional 1,323 shares during the period. Engineers Gate Manager LP purchased a new position in Agnico Eagle Mines in the second quarter valued at $206,000. BNP Paribas Arbitrage SA boosted its holdings in Agnico Eagle Mines by 115.6% in the second quarter. BNP Paribas Arbitrage SA now owns 7,635 shares of the mining company’s stock valued at $350,000 after purchasing an additional 56,580 shares during the period. Finally, Ingalls & Snyder LLC acquired a new stake in Agnico Eagle Mines in the third quarter valued at $325,000. Hedge funds and other institutional investors own 60.20% of the company’s stock.

Agnico Eagle Mines stock opened at $38.35 on Friday. Agnico Eagle Mines Ltd has a 1-year low of $32.18 and a 1-year high of $49.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.88 and a current ratio of 2.94. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 34.55 and a beta of -0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, October 24th. The mining company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.06. Agnico Eagle Mines had a return on equity of 1.75% and a net margin of 4.60%. The business had revenue of $518.68 million for the quarter, compared to analysts’ expectations of $497.68 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The business’s revenue was down 10.6% compared to the same quarter last year. As a group, analysts anticipate that Agnico Eagle Mines Ltd will post 0.18 earnings per share for the current fiscal year.

A number of research firms have weighed in on AEM. ValuEngine cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, November 27th. Scotiabank set a $56.00 price target on Agnico Eagle Mines and gave the company a “buy” rating in a research note on Tuesday, October 30th. BMO Capital Markets set a $45.00 price target on Agnico Eagle Mines and gave the company a “buy” rating in a research note on Wednesday, October 24th. Canaccord Genuity restated a “buy” rating on shares of Agnico Eagle Mines in a research note on Monday, October 22nd. Finally, Barclays began coverage on Agnico Eagle Mines in a research note on Wednesday, October 10th. They issued an “overweight” rating and a $39.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $54.25.

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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.

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

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