Truist Financial Corp Purchases 2,518 Shares of Agnico Eagle Mines Limited $AEM

Truist Financial Corp grew its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 6.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 44,413 shares of the mining company’s stock after acquiring an additional 2,518 shares during the quarter. Truist Financial Corp’s holdings in Agnico Eagle Mines were worth $5,282,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Lee Johnson Capital Management LLC bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at $4,228,000. Capital Investment Advisors LLC lifted its position in shares of Agnico Eagle Mines by 38.4% during the 2nd quarter. Capital Investment Advisors LLC now owns 3,263 shares of the mining company’s stock valued at $388,000 after acquiring an additional 906 shares during the period. HB Wealth Management LLC lifted its position in shares of Agnico Eagle Mines by 13.0% during the 2nd quarter. HB Wealth Management LLC now owns 5,571 shares of the mining company’s stock valued at $663,000 after acquiring an additional 639 shares during the period. Generate Investment Management Ltd bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at $7,264,000. Finally, SeaBridge Investment Advisors LLC bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter valued at $202,000. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AEM has been the subject of a number of recent analyst reports. CIBC reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Bank of America boosted their price target on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. UBS Group boosted their price target on Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, September 19th. TD Securities raised Agnico Eagle Mines to a “strong-buy” rating in a report on Thursday, July 17th. Finally, Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Seven equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $141.40.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $166.32 on Wednesday. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-month high of $172.21. The business has a 50-day simple moving average of $147.11 and a two-hundred day simple moving average of $127.11. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The stock has a market cap of $83.63 billion, a PE ratio of 28.29, a PEG ratio of 1.14 and a beta of 0.46.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. Analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines 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.