Connectus Wealth LLC Sells 3,231 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Connectus Wealth LLC trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 6.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,858 shares of the mining company’s stock after selling 3,231 shares during the quarter. Connectus Wealth LLC’s holdings in Agnico Eagle Mines were worth $2,680,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AEM. Norges Bank purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $325,327,000. Clearbridge Investments LLC purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $132,257,000. Van ECK Associates Corp raised its holdings in shares of Agnico Eagle Mines by 9.5% during the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock worth $1,264,791,000 after acquiring an additional 1,995,127 shares in the last quarter. Capital Wealth Planning LLC purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter worth approximately $88,547,000. Finally, TD Asset Management Inc raised its holdings in shares of Agnico Eagle Mines by 41.9% during the 4th quarter. TD Asset Management Inc now owns 4,274,964 shares of the mining company’s stock worth $235,535,000 after acquiring an additional 1,261,482 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

AEM opened at $63.80 on Monday. Agnico Eagle Mines Limited has a 12-month low of $43.22 and a 12-month high of $71.50. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The business’s fifty day simple moving average is $65.32 and its 200-day simple moving average is $56.63. The company has a market capitalization of $31.86 billion, a price-to-earnings ratio of 67.16, a PEG ratio of 0.66 and a beta of 1.11.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last posted its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the company earned $0.57 EPS. The business’s revenue was up 21.2% compared to the same quarter last year. On average, equities research analysts anticipate that Agnico Eagle Mines Limited will post 3.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AEM has been the topic of several recent research reports. TD Securities upped their price objective on Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Jefferies Financial Group increased their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a report on Monday, April 22nd. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. CIBC increased their price target on Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Finally, Citigroup upped their price objective on Agnico Eagle Mines from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.22.

Check Out Our Latest Research Report on AEM

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.

Further Reading

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

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