Agnico Eagle Mines Limited $AEM Shares Sold by Ancora Advisors LLC

Key Points

• Ancora Advisors LLC significantly reduced its stake in Agnico Eagle Mines, selling 3,797 shares and lowering its holdings by 76.1% in the first quarter, leaving it with only 1,190 shares valued at $129,000.
• In contrast, TD Asset Management Inc and Canada Pension Plan Investment Board increased their positions in Agnico Eagle Mines by 42.8% and 57.4%, respectively, signaling differing strategies among institutional investors.
• Agnico Eagle Mines reported earnings of $1.94 per share in its latest quarterly results, surpassing estimates and reflecting a 35.6% year-over-year revenue growth to $2.86 billion.

Ancora Advisors LLC cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 76.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,190 shares of the mining company's stock after selling 3,797 shares during the period. Ancora Advisors LLC's holdings in Agnico Eagle Mines were worth $129,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Agnico Eagle Mines by 1.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock valued at $618,000 after acquiring an additional 85 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in Agnico Eagle Mines by 31.1% in the first quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock worth $40,000 after purchasing an additional 87 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Agnico Eagle Mines by 2.0% during the fourth quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company's stock valued at $428,000 after buying an additional 106 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC raised its stake in Agnico Eagle Mines by 1.8% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company's stock valued at $543,000 after buying an additional 120 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Agnico Eagle Mines by 19.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company's stock valued at $84,000 after buying an additional 125 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

AEM stock traded down $0.38 during midday trading on Friday, reaching $153.35. The company had a trading volume of 2,278,506 shares, compared to its average volume of 2,474,095. 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 stock has a 50 day moving average price of $133.30 and a 200 day moving average price of $119.67. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $156.18. The firm has a market capitalization of $77.11 billion, a PE ratio of 26.08, a P/E/G ratio of 1.06 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS 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 company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. Agnico Eagle Mines's quarterly revenue was up 35.6% compared to the same quarter last year. Analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Analysts Set New Price Targets

AEM has been the topic of several research reports. Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada upped their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Five investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $136.90.

About Agnico Eagle Mines

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.