Agnico Eagle Mines Limited $AEM Shares Sold by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC cut its Agnico Eagle Mines stake by 14.4% in the fourth quarter, selling 6,767 shares and leaving it with 40,287 shares worth about $6.83 million.
• The stock was down 7.6% in Friday trading, opening at $163.39, while the company’s market cap stood at $81.77 billion.
• Agnico Eagle reported strong quarterly results, with EPS of $3.40 topping estimates and revenue of $4 billion beating expectations; analysts still see a Moderate Buy rating with a consensus target price of $236.08.

Commonwealth Equity Services LLC reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 14.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,287 shares of the mining company's stock after selling 6,767 shares during the period. Commonwealth Equity Services LLC's holdings in Agnico Eagle Mines were worth $6,830,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in Agnico Eagle Mines during the fourth quarter valued at $1,367,783,000. Capital World Investors lifted its position in Agnico Eagle Mines by 20.0% during the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company's stock valued at $3,497,470,000 after purchasing an additional 3,462,968 shares during the period. Clearbridge Investments LLC lifted its position in Agnico Eagle Mines by 60.5% during the fourth quarter. Clearbridge Investments LLC now owns 2,149,463 shares of the mining company's stock valued at $364,398,000 after purchasing an additional 810,543 shares during the period. Lazard Asset Management LLC lifted its position in Agnico Eagle Mines by 566.2% during the third quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company's stock valued at $149,593,000 after purchasing an additional 754,919 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Agnico Eagle Mines by 26,635.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 736,835 shares of the mining company's stock valued at $124,916,000 after purchasing an additional 734,079 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Down 7.6%

AEM opened at $163.39 on Friday. Agnico Eagle Mines Limited has a fifty-two week low of $114.60 and a fifty-two week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The company has a fifty day moving average of $193.89 and a two-hundred day moving average of $194.53. The stock has a market capitalization of $81.77 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 3.89 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating analysts' consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company had revenue of $4 billion during the quarter, compared to analysts' expectations of $3.96 billion. During the same quarter in the previous year, the company earned $1.53 earnings per share. The firm's revenue for the quarter was up 66.1% on a year-over-year basis. On average, research analysts expect that Agnico Eagle Mines Limited will post 13.18 earnings per share for the current year.

Agnico Eagle Mines News Summary

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Agnico Eagle approved an investment decision for its Hope Bay project, a new underground mine with a 6,000-tonne-per-day processing facility, which could support longer-term production growth. Agnico Eagle Mines (AEM) Approves Investment for Hope Bay Gold Project
• Positive Sentiment: CIBC lifted its price target on Agnico Eagle Mines and kept an Outperform rating, signaling confidence in the company’s operating strength and future upside. Is Agnico Eagle Mines Limited (AEM) among the Best Silver and Copper Stocks to Buy for the EV Transition?
• Positive Sentiment: Recent market coverage highlighted strong analyst support, hedge fund interest, and favorable long-term growth investments, which may be reinforcing bullish sentiment around the stock. Agnico Eagle Mines (AEM) Ends May With Strong Analyst Support
• Neutral Sentiment: Agnico Eagle entered a $5 million royalty purchase agreement with Prism Resources tied to properties in Ontario; the deal is modest in size and appears more like a capital structure/royalty cleanup transaction than a major operational shift. AGNICO EAGLE UPDATES EARLY WARNING REPORT IN RESPECT OF PRISM RESOURCES INC.
• Neutral Sentiment: Several articles noted that AEM has been trending among retail investors and outpacing the broader market, but these pieces were mostly commentary rather than new fundamental information. Agnico Eagle Mines (AEM) Outpaces Stock Market Gains: What You Should Know

Analysts Set New Price Targets

A number of research firms recently issued reports on AEM. Scotiabank restated an "outperform" rating and set a $280.00 target price on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. UBS Group decreased their target price on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating for the company in a research report on Friday, March 27th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, May 13th. TD Securities boosted their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Finally, Zacks Research downgraded shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $236.08.

About Agnico Eagle Mines

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.

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