DAVENPORT & Co LLC Lowers Holdings in Agnico Eagle Mines Limited $AEM

DAVENPORT & Co LLC trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,883 shares of the mining company’s stock after selling 205 shares during the quarter. DAVENPORT & Co LLC’s holdings in Agnico Eagle Mines were worth $224,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Marks Group Wealth Management Inc purchased a new stake in Agnico Eagle Mines in the 2nd quarter valued at approximately $229,000. Grimes & Company Inc. purchased a new stake in Agnico Eagle Mines in the 2nd quarter valued at approximately $300,000. 111 Capital purchased a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $529,000. Fairvoy Private Wealth LLC purchased a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $998,000. Finally, Ascent Group LLC purchased a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $235,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $172.11 on Tuesday. The firm has a market capitalization of $86.54 billion, a P/E ratio of 29.27, a PEG ratio of 1.09 and a beta of 0.46. The stock has a fifty day moving average price of $150.38 and a 200 day moving average price of $128.96. Agnico Eagle Mines Limited has a 52 week low of $75.17 and a 52 week high of $172.29. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

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

Wall Street Analyst Weigh In

AEM has been the topic of a number of analyst reports. Zacks Research upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Lake Street Capital restated a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. TD Securities boosted their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. UBS Group boosted their price objective on shares of Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, September 19th. Finally, CIBC boosted their price objective on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an “outperformer” rating in a report on Friday. Six analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $162.10.

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.