RWA Wealth Partners LLC Lowers Position in Agnico Eagle Mines Limited $AEM

RWA Wealth Partners LLC decreased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,678 shares of the mining company’s stock after selling 3,257 shares during the quarter. RWA Wealth Partners LLC’s holdings in Agnico Eagle Mines were worth $5,908,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. TD Asset Management Inc grew its position in shares of Agnico Eagle Mines by 42.8% during the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock valued at $978,553,000 after purchasing an additional 2,709,005 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Agnico Eagle Mines by 57.4% during the first quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock valued at $254,029,000 after buying an additional 854,924 shares during the last quarter. Nuveen LLC purchased a new position in Agnico Eagle Mines during the 1st quarter valued at approximately $85,926,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Agnico Eagle Mines by 11.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company’s stock worth $728,214,000 after acquiring an additional 673,400 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Agnico Eagle Mines by 3.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company’s stock worth $1,457,160,000 after acquiring an additional 499,362 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $161.28 on Friday. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-month high of $187.50. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $161.41 and a 200-day moving average price of $136.04. The firm has a market capitalization of $81.04 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 0.70 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.93 billion. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.97%. During the same period in the prior year, the company posted $1.14 EPS. As a group, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AEM shares. Citigroup boosted 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. UBS Group boosted their target price on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Thursday, October 23rd. Finally, TD Securities boosted their price objective on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $184.50.

Agnico Eagle Mines Company Profile

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.