Agnico Eagle Mines Limited $AEM Stock Position Trimmed by Lmcg Investments LLC

Lmcg Investments LLC lessened its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,516 shares of the mining company’s stock after selling 13,235 shares during the quarter. Agnico Eagle Mines accounts for 2.0% of Lmcg Investments LLC’s investment portfolio, making the stock its 8th largest position. Lmcg Investments LLC’s holdings in Agnico Eagle Mines were worth $34,205,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Acumen Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth about $26,000. Abound Wealth Management raised its position in Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after acquiring an additional 104 shares during the period. Lodestone Wealth Management LLC bought a new stake in Agnico Eagle Mines in the fourth quarter worth about $35,000. Jessup Wealth Management Inc purchased a new position in Agnico Eagle Mines in the fourth quarter valued at about $35,000. Finally, Bangor Savings Bank bought a new position in shares of Agnico Eagle Mines during the 4th quarter valued at approximately $37,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the subject of several research analyst reports. Scotia decreased their price target on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a research note on Friday, July 3rd. TD increased their price objective on Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Finally, UBS Group decreased their price objective on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.85.

Agnico Eagle Mines Trading Down 3.1%

NYSE:AEM opened at $150.21 on Wednesday. Agnico Eagle Mines Limited has a 1 year low of $115.19 and a 1 year high of $255.24. The stock’s fifty day moving average price is $172.67 and its two-hundred day moving average price is $193.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The company has a market cap of $76.24 billion, a P/E ratio of 14.12, a P/E/G ratio of 3.40 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the company posted $1.53 EPS. The firm’s revenue for the quarter was up 66.1% compared to the same quarter last year. As a group, analysts expect that Agnico Eagle Mines Limited will post 13.22 EPS for the current year.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.