Evelyn Partners Investment Management LLP Cuts Stock Position in Agnico Eagle Mines Limited $AEM

Evelyn Partners Investment Management LLP cut its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,725 shares of the mining company’s stock after selling 4,650 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Agnico Eagle Mines were worth $25,729,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acumen Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter worth $26,000. Lodestone Wealth Management LLC purchased a new stake in Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Bangor Savings Bank acquired a new position in Agnico Eagle Mines during the 4th quarter worth approximately $37,000. Finally, University of Texas Texas AM Investment Management Co. raised its stake in shares of Agnico Eagle Mines by 64.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company’s stock worth $39,000 after buying an additional 90 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on AEM. UBS Group reduced their price target 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. Royal Bank Of Canada cut their price objective on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a research report on Thursday, July 9th. Scotiabank reduced their target price on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. JPMorgan Chase & Co. decreased their target price on shares of Agnico Eagle Mines from $222.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Finally, Wall Street Zen cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $225.69.

Agnico Eagle Mines Price Performance

AEM stock opened at $145.89 on Tuesday. The firm has a 50 day moving average of $159.78 and a 200-day moving average of $190.32. The company has a market cap of $74.05 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 2.21 and a beta of 0.60. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 12-month low of $122.32 and a 12-month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping 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 business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the firm posted $1.53 EPS. The company’s revenue was up 66.1% compared to the same quarter last year. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 11.83 EPS for the current fiscal year.

Agnico Eagle Mines Company 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.