Commonwealth Equity Services LLC Cuts Stake in Agnico Eagle Mines Limited $AEM

Commonwealth Equity Services LLC lowered its stake in shares of Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 14.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,287 shares of the mining company’s stock after selling 6,767 shares during the period. Commonwealth Equity Services LLC’s holdings in Agnico Eagle Mines were worth $6,830,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AEM. MCF Advisors LLC purchased a new stake in shares of Agnico Eagle Mines during the third quarter worth about $34,000. Abound Wealth Management increased its stake in shares of Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares in the last quarter. Lodestone Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter worth about $35,000. Jessup Wealth Management Inc purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter worth about $35,000. Finally, Caitlin John LLC purchased a new stake in shares of Agnico Eagle Mines during the third quarter worth about $36,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

AEM opened at $163.39 on Friday. The firm has a market capitalization of $81.77 billion, a PE ratio of 15.36, a PEG ratio of 3.89 and a beta of 0.56. Agnico Eagle Mines Limited has a twelve month low of $114.60 and a twelve month high of $255.24. The firm’s 50-day moving average price is $193.89 and its 200 day moving average price is $194.53. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last posted 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 firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. Agnico Eagle Mines’s quarterly revenue was up 66.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 earnings per share. As a group, sell-side analysts expect that Agnico Eagle Mines Limited will post 13.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on AEM shares. Barclays began coverage on shares of Agnico Eagle Mines in a research note on Thursday, May 21st. They set an “overweight” rating and a $213.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. TD Securities boosted their price target on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Erste Group Bank lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.08.

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Agnico Eagle Mines News Summary

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Agnico Eagle Mines Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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