GW Henssler & Associates Ltd. Sells 11,860 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• GW Henssler & Associates Ltd. has reduced its stake in Agnico Eagle Mines Limited by 3.2%, now holding 357,393 shares valued at approximately $38.7 million.
• Investment analysts have shown confidence in Agnico Eagle Mines, with multiple upgrades, including a price target increase to $145.00 by the Royal Bank of Canada, suggesting an overall consensus rating of "Buy".
• Agnico Eagle Mines reported a 35.6% increase in revenue year-over-year, with earnings per share of $1.94 for the last quarter, exceeding expectations.

GW Henssler & Associates Ltd. trimmed its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 3.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 357,393 shares of the mining company's stock after selling 11,860 shares during the period. Agnico Eagle Mines accounts for approximately 2.2% of GW Henssler & Associates Ltd.'s holdings, making the stock its 8th biggest position. GW Henssler & Associates Ltd. owned approximately 0.07% of Agnico Eagle Mines worth $38,745,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DAVENPORT & Co LLC acquired a new position in Agnico Eagle Mines during the 1st quarter valued at about $226,000. Bank of New York Mellon Corp boosted its stake in Agnico Eagle Mines by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock valued at $52,613,000 after purchasing an additional 5,717 shares during the period. Private Trust Co. NA boosted its stake in Agnico Eagle Mines by 454.9% during the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock valued at $31,000 after purchasing an additional 232 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines in the 1st quarter worth approximately $34,000. Finally, Captrust Financial Advisors lifted its stake in shares of Agnico Eagle Mines by 6.5% in the 4th quarter. Captrust Financial Advisors now owns 5,663 shares of the mining company's stock worth $443,000 after acquiring an additional 347 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Down 0.2%

Shares of AEM traded down $0.33 during mid-day trading on Thursday, hitting $148.44. 2,793,936 shares of the company's stock were exchanged, compared to its average volume of 2,939,058. The firm has a fifty day moving average of $128.65 and a two-hundred day moving average of $116.99. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $149.94. The stock has a market cap of $74.64 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 0.99 and a beta of 0.45. 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 (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, topping 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 company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the business posted $1.07 EPS. Agnico Eagle Mines's quarterly revenue was up 35.6% on a year-over-year basis. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Analyst Ratings Changes

AEM has been the subject of a number of research analyst reports. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Bank of America increased their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Finally, Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price for the company in a research note on Monday, June 30th. Five investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average 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.