J. Safra Sarasin Holding AG Sells 12,247 Shares of Agnico Eagle Mines Limited $AEM

J. Safra Sarasin Holding AG lessened its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 26.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 33,894 shares of the mining company’s stock after selling 12,247 shares during the period. J. Safra Sarasin Holding AG’s holdings in Agnico Eagle Mines were worth $6,879,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AEM. Paradiem LLC boosted its stake in shares of Agnico Eagle Mines by 38.5% during the first quarter. Paradiem LLC now owns 4,753 shares of the mining company’s stock valued at $965,000 after purchasing an additional 1,321 shares during the period. Procyon Advisors LLC increased its position in shares of Agnico Eagle Mines by 8.1% during the first quarter. Procyon Advisors LLC now owns 1,776 shares of the mining company’s stock worth $360,000 after acquiring an additional 133 shares during the period. Global Assets Advisory LLC purchased a new position in shares of Agnico Eagle Mines during the first quarter worth approximately $155,000. International Assets Investment Management LLC raised its stake in shares of Agnico Eagle Mines by 7.7% during the first quarter. International Assets Investment Management LLC now owns 1,496 shares of the mining company’s stock valued at $314,000 after acquiring an additional 107 shares in the last quarter. Finally, Diversify Wealth Management LLC raised its stake in shares of Agnico Eagle Mines by 183.0% during the first quarter. Diversify Wealth Management LLC now owns 9,101 shares of the mining company’s stock valued at $1,847,000 after acquiring an additional 5,885 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AEM has been the subject of several research reports. Wall Street Zen cut Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Sunday. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. TD lifted their price objective on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Barclays lowered their price objective on shares of Agnico Eagle Mines from $213.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their target price 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. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $238.31.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $143.47 on Tuesday. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The firm has a market cap of $72.82 billion, a PE ratio of 13.48, a P/E/G ratio of 1.93 and a beta of 0.60. Agnico Eagle Mines Limited has a 12 month low of $116.83 and a 12 month high of $255.24. The stock has a fifty day moving average price of $169.18 and a 200-day moving average price of $192.66.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company’s revenue was up 66.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.53 earnings per share. Equities research analysts predict that Agnico Eagle Mines Limited will post 12.44 earnings per share for the current fiscal year.

About Agnico Eagle Mines

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.