Empowered Funds LLC Lowers Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Empowered Funds LLC reduced its stake in Agnico Eagle Mines by 4.3%, holding 68,666 shares valued at approximately $7.44 million.
• Agnico Eagle Mines received positive upgrades from several analysts, with Raymond James and Royal Bank of Canada setting price targets of $130 and $145, respectively.
• The company reported a significant year-over-year revenue increase of 35.6%, with earnings per share of $1.94 exceeding consensus estimates by $0.11.

Empowered Funds LLC trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 4.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 68,666 shares of the mining company's stock after selling 3,122 shares during the quarter. Empowered Funds LLC's holdings in Agnico Eagle Mines were worth $7,444,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Agnico Eagle Mines during the 1st quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC bought a new position in Agnico Eagle Mines during the first quarter valued at approximately $26,000. Private Trust Co. NA boosted its holdings in Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after purchasing an additional 232 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Agnico Eagle Mines in the 1st quarter worth approximately $34,000. Finally, Dagco Inc. purchased a new stake in Agnico Eagle Mines during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

AEM 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 business has a 50-day moving average of $133.30 and a two-hundred day moving average of $119.82. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines Limited has a 1 year low of $75.17 and a 1 year high of $156.18. The company has a market cap of $77.11 billion, a P/E 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 announced its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The company had revenue of $2.86 billion during 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 firm's revenue was up 35.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 EPS. As a group, equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Bank of America upped their price target on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Finally, Zacks Research downgraded shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Five research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price 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.