Royal Fund Management LLC Has $2.23 Million Holdings in Agnico Eagle Mines Limited $AEM

Royal Fund Management LLC decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM – Free Report) (TSE:AEM) by 30.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,704 shares of the mining company’s stock after selling 8,043 shares during the period. Royal Fund Management LLC’s holdings in Agnico Eagle Mines were worth $2,225,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cadinha & Co. LLC grew its position in shares of Agnico Eagle Mines by 2.8% in the second quarter. Cadinha & Co. LLC now owns 3,211 shares of the mining company’s stock valued at $382,000 after purchasing an additional 86 shares during the last quarter. City State Bank boosted its stake in Agnico Eagle Mines by 69.2% during the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after purchasing an additional 110 shares during the period. Wedbush Securities Inc. grew its holdings in Agnico Eagle Mines by 2.3% in the 2nd quarter. Wedbush Securities Inc. now owns 5,003 shares of the mining company’s stock valued at $595,000 after buying an additional 113 shares during the last quarter. Rhumbline Advisers grew its holdings in Agnico Eagle Mines by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 1,810 shares of the mining company’s stock valued at $215,000 after buying an additional 134 shares during the last quarter. Finally, US Bancorp DE increased its position in Agnico Eagle Mines by 2.0% in the 1st quarter. US Bancorp DE now owns 6,908 shares of the mining company’s stock worth $749,000 after buying an additional 138 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the subject of several research reports. UBS Group increased their price objective on Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday. Bank of America boosted their target price on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. TD Securities increased their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Citigroup raised their price target on shares of Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Five investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $185.50.

Check Out Our Latest Stock Analysis on AEM

Agnico Eagle Mines Trading Up 1.5%

Shares of AEM opened at $171.65 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The stock has a market cap of $86.11 billion, a PE ratio of 25.06, a PEG ratio of 0.62 and a beta of 0.64. Agnico Eagle Mines Limited has a 1 year low of $76.91 and a 1 year high of $187.50. The stock has a 50 day simple moving average of $166.88 and a 200-day simple moving average of $143.10.

Agnico Eagle Mines (NYSE:AEM – Get Free Report) (TSE:AEM) last announced its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the prior year, the business posted $1.14 earnings per share. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

About Agnico Eagle Mines

(Free Report)

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.

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