RWA Wealth Partners LLC Trims Position in Agnico Eagle Mines Limited $AEM

RWA Wealth Partners LLC decreased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 6.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 49,678 shares of the mining company’s stock after selling 3,257 shares during the period. RWA Wealth Partners LLC’s holdings in Agnico Eagle Mines were worth $5,908,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ameritas Advisory Services LLC bought a new stake in shares of Agnico Eagle Mines during the second quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Agnico Eagle Mines during the 1st quarter worth $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in Agnico Eagle Mines during the 1st quarter valued at $26,000. City State Bank lifted its holdings in shares of Agnico Eagle Mines by 69.2% in the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after buying an additional 110 shares during the period. Finally, Costello Asset Management INC grew its position in shares of Agnico Eagle Mines by 2,166.7% during the 2nd quarter. Costello Asset Management INC now owns 340 shares of the mining company’s stock worth $40,000 after buying an additional 325 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $161.28 on Friday. The company has a 50 day moving average of $161.41 and a two-hundred day moving average of $136.04. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $187.50. The company has a market cap of $81.04 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 0.70 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a return on equity of 15.97% and a net margin of 32.62%.The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the firm posted $1.14 earnings per share. As a group, analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on AEM shares. UBS Group upped their price objective on shares of Agnico Eagle Mines from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. TD Securities upped their price target on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Wall Street Zen downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Bank of America increased their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines presently has an average rating of “Buy” and an average price target of $184.50.

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.