Agnico Eagle Mines Limited $AEM Position Decreased by Altrinsic Global Advisors LLC

Key Points

• Agnico Eagle Mines Limited is Altrinsic Global Advisors LLC's 10th largest position, comprising 3.5% of its holdings after a 38.9% stake reduction in the first quarter.
• The company reported a net margin of 30.63% and surpassed earnings expectations by posting an EPS of $1.94 for the recent quarter.
• Current analyst ratings for Agnico Eagle Mines show a strong positive sentiment, with five analysts giving a Strong Buy rating and an average price target of $136.90.

Altrinsic Global Advisors LLC cut its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 38.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 662,008 shares of the mining company's stock after selling 421,383 shares during the quarter. Agnico Eagle Mines makes up approximately 3.5% of Altrinsic Global Advisors LLC's portfolio, making the stock its 10th biggest position. Altrinsic Global Advisors LLC owned 0.13% of Agnico Eagle Mines worth $71,768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Agnico Eagle Mines during the first quarter worth about $26,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Agnico Eagle Mines during the first quarter worth about $26,000. Private Trust Co. NA grew its position in shares of Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after buying an additional 232 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the first quarter worth about $34,000. Finally, Dagco Inc. acquired a new position in shares of Agnico Eagle Mines during the first quarter worth about $39,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

AEM stock traded up $5.12 during trading on Friday, hitting $144.23. The company had a trading volume of 2,801,181 shares, compared to its average volume of 2,922,280. The firm has a 50-day moving average price of $126.63 and a 200-day moving average price of $115.68. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The firm has a market cap of $72.52 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 0.96 and a beta of 0.44. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $144.78.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company's revenue was up 35.6% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. On average, analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on AEM. Bank of America boosted their price objective 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. CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target on the stock in a research note on Monday, June 30th. Finally, Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Five analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target 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.