Synovus Financial Corp Acquires New Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Synovus Financial Corp has acquired 2,185 shares in Agnico Eagle Mines Limited, valued at approximately $237,000, reflecting growing institutional interest in the company.
• Agnico Eagle Mines reported a 35.6% increase in revenue year-over-year, with a quarterly revenue of $2.86 billion and an EPS of $1.94, surpassing analysts' expectations.
• Analysts have a consensus rating of "Buy" for Agnico Eagle Mines, with an average target price of $136.90, indicating positive sentiment towards the stock's performance.

Synovus Financial Corp acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,185 shares of the mining company's stock, valued at approximately $237,000.

Several other hedge funds have also recently bought and sold shares of AEM. TD Asset Management Inc lifted its stake in Agnico Eagle Mines by 42.8% in the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock worth $978,553,000 after acquiring an additional 2,709,005 shares in the last quarter. Nuveen LLC purchased a new stake in Agnico Eagle Mines in the 1st quarter worth about $85,926,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in Agnico Eagle Mines by 304.5% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 913,936 shares of the mining company's stock worth $71,465,000 after acquiring an additional 687,971 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Agnico Eagle Mines by 11.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock worth $728,214,000 after acquiring an additional 673,400 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Agnico Eagle Mines in the 4th quarter worth about $46,799,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Shares of AEM stock traded down $0.33 during trading on Thursday, reaching $148.44. The company had a trading volume of 2,793,936 shares, compared to its average volume of 2,301,304. The firm's 50 day simple moving average is $129.16 and its two-hundred day simple moving average is $117.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. Agnico Eagle Mines Limited has a one year low of $75.17 and a one year high of $149.94. The company has a market capitalization of $74.64 billion, a PE ratio of 25.24, a PEG ratio of 1.02 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business earned $1.07 EPS. The firm's revenue was up 35.6% compared to the same quarter last year. Sell-side analysts forecast 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 subject of several research analyst reports. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Bank of America upped their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Zacks Research lowered Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Five research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $136.90.

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.