Agnico Eagle Mines Limited $AEM Shares Sold by Focus Partners Wealth

Focus Partners Wealth trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,248 shares of the mining company’s stock after selling 6,556 shares during the period. Focus Partners Wealth’s holdings in Agnico Eagle Mines were worth $5,014,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI lifted its stake in Agnico Eagle Mines by 32.6% during the first quarter. Zurich Insurance Group Ltd FI now owns 509,058 shares of the mining company’s stock worth $55,214,000 after purchasing an additional 125,223 shares in the last quarter. United Services Automobile Association lifted its stake in Agnico Eagle Mines by 4.6% during the first quarter. United Services Automobile Association now owns 16,865 shares of the mining company’s stock worth $1,813,000 after purchasing an additional 735 shares in the last quarter. Everstar Asset Management LLC lifted its stake in Agnico Eagle Mines by 13.3% during the first quarter. Everstar Asset Management LLC now owns 6,669 shares of the mining company’s stock worth $723,000 after purchasing an additional 781 shares in the last quarter. Knightsbridge Asset Management LLC acquired a new position in Agnico Eagle Mines during the first quarter worth $214,000. Finally, Scientech Research LLC acquired a new position in Agnico Eagle Mines during the first quarter worth $737,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $153.35 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. Agnico Eagle Mines Limited has a 1 year low of $75.17 and a 1 year high of $156.18. The company has a market capitalization of $77.11 billion, a PE ratio of 26.08, a P/E/G ratio of 1.05 and a beta of 0.44. The company has a fifty day moving average of $133.30 and a two-hundred day moving average of $119.99.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 35.6% on a year-over-year basis. As a group, analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Raymond James Financial upgraded Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price target on the stock in a research note on Monday, June 30th. Lake Street Capital reaffirmed a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. CIBC reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. TD Securities raised Agnico Eagle Mines to a “strong-buy” rating in a research report on Thursday, July 17th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Buy” and a consensus target price of $136.90.

About Agnico Eagle Mines

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.