Oxbow Advisors LLC Sells 8,747 Shares of Agnico Eagle Mines Limited $AEM

Oxbow Advisors LLC trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,043 shares of the mining company’s stock after selling 8,747 shares during the period. Agnico Eagle Mines comprises about 2.6% of Oxbow Advisors LLC’s investment portfolio, making the stock its 7th largest position. Oxbow Advisors LLC’s holdings in Agnico Eagle Mines were worth $27,483,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AEM. PFG Investments LLC grew its stake in Agnico Eagle Mines by 5.6% in the 3rd quarter. PFG Investments LLC now owns 4,341 shares of the mining company’s stock worth $732,000 after acquiring an additional 230 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its position in shares of Agnico Eagle Mines by 43.4% in the third quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 20,926 shares of the mining company’s stock valued at $3,526,000 after purchasing an additional 6,330 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Agnico Eagle Mines by 1,822.4% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 64,323 shares of the mining company’s stock valued at $10,834,000 after purchasing an additional 60,977 shares during the period. Olympiad Research LP acquired a new position in Agnico Eagle Mines in the third quarter valued at $396,000. Finally, Covenant Asset Management LLC purchased a new position in Agnico Eagle Mines during the third quarter worth about $203,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 0.4%

Shares of NYSE:AEM traded up $0.83 during midday trading on Friday, hitting $214.52. 2,594,001 shares of the company’s stock traded hands, compared to its average volume of 2,229,503. The firm’s fifty day moving average price is $178.06 and its two-hundred day moving average price is $158.71. 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 Limited has a twelve month low of $87.45 and a twelve month high of $215.95. The company has a market cap of $107.40 billion, a PE ratio of 31.32, a P/E/G ratio of 0.62 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the company posted $1.14 earnings per share. On average, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on AEM. Citigroup lifted their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Wall Street Zen raised shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 19th. CIBC increased their price target on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Jefferies Financial Group set a $189.00 price objective on shares of Agnico Eagle Mines in a research note on Sunday, December 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $225.00 target price on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Five investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Buy” and a consensus target price of $211.70.

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.