Focus Partners Wealth Reduces Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Focus Partners Wealth reduced its stake in Agnico Eagle Mines Limited by 12.4%, owning 46,248 shares worth $5,014,000 after selling 6,556 shares in the first quarter.
• During the same quarter, Zurich Insurance Group increased its ownership by 32.6%, now holding 509,058 shares valued at $55,214,000, alongside other notable institutional investments.
• Agnico Eagle Mines reported earnings of $1.94 per share for the last quarter, surpassing the expected $1.83, with a year-over-year revenue increase of 35.6% to $2.86 billion.

Focus Partners Wealth lowered its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 12.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,248 shares of the mining company's stock after selling 6,556 shares during the period. Focus Partners Wealth's holdings in Agnico Eagle Mines were worth $5,014,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Agnico Eagle Mines by 1.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock worth $618,000 after purchasing an additional 85 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of Agnico Eagle Mines by 31.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock worth $40,000 after purchasing an additional 87 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Agnico Eagle Mines by 19.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company's stock worth $84,000 after purchasing an additional 125 shares during the last quarter. Continuum Advisory LLC raised its position in shares of Agnico Eagle Mines by 47.0% during the 1st quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock worth $43,000 after purchasing an additional 127 shares during the last quarter. Finally, Sapient Capital LLC raised its position in shares of Agnico Eagle Mines by 1.2% during the 1st quarter. Sapient Capital LLC now owns 10,984 shares of the mining company's stock worth $1,191,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Trading Up 4.5%

Shares of Agnico Eagle Mines stock traded up $6.91 during mid-day trading on Friday, hitting $161.29. The stock had a trading volume of 9,137,369 shares, compared to its average volume of 2,721,813. The firm has a 50-day moving average of $136.93 and a two-hundred day moving average of $121.70. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-month high of $162.53. 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 $81.10 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 1.04 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly 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. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The business had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the prior year, the company posted $1.07 EPS. The business's revenue for the quarter was up 35.6% on a year-over-year basis. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. TD Securities upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Bank of America upped their price target on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Royal Bank Of Canada upped their price target on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, Zacks Research cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $141.40.

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.