Agnico Eagle Mines Limited $AEM Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 98.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,779 shares of the mining company’s stock after selling 790,794 shares during the quarter. Hsbc Holdings PLC’s holdings in Agnico Eagle Mines were worth $2,522,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $1,367,783,000. Capital World Investors increased its position in Agnico Eagle Mines by 20.0% in the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock valued at $3,497,470,000 after acquiring an additional 3,462,968 shares during the period. Van ECK Associates Corp increased its position in Agnico Eagle Mines by 21.6% in the 4th quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after acquiring an additional 3,062,705 shares during the period. Alberta Investment Management Corp purchased a new stake in Agnico Eagle Mines during the 4th quarter valued at approximately $194,195,000. Finally, Employees Provident Fund Board purchased a new stake in Agnico Eagle Mines during the 4th quarter valued at approximately $183,341,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AEM shares. Wall Street Zen upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Saturday. Canadian Imperial Bank of Commerce upped their price target on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. JPMorgan Chase & Co. boosted their price objective on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, UBS Group reduced their target price on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average price target of $236.08.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $157.24 on Monday. The firm has a market capitalization of $79.81 billion, a PE ratio of 14.78, a P/E/G ratio of 3.45 and a beta of 0.56. Agnico Eagle Mines Limited has a 52 week low of $114.60 and a 52 week high of $255.24. The firm’s 50-day simple moving average is $180.30 and its 200 day simple moving average is $194.18. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the business posted $1.53 earnings per share. The firm’s quarterly revenue was up 66.1% compared to the same quarter last year. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 13.2 EPS 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.