Lansforsakringar Fondforvaltning AB publ Reduces Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Lansforsakringar Fondforvaltning AB reduced its stake in Agnico Eagle Mines by 1.7%, owning 106,632 shares worth approximately $11.55 million after selling 1,870 shares in the first quarter.
• Several analysts have raised their ratings on Agnico Eagle Mines, with a consensus rating of Buy and a target price of $136.90, indicating positive market sentiment towards the company.
• Agnico Eagle Mines reported a 35.6% increase in revenue year-over-year, reaching $2.86 billion, with earnings per share (EPS) of $1.94, surpassing estimates.

Lansforsakringar Fondforvaltning AB publ trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,632 shares of the mining company's stock after selling 1,870 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Agnico Eagle Mines were worth $11,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Wealth Preservation Advisors LLC acquired a new stake in Agnico Eagle Mines in the 1st quarter valued at about $225,000. FORA Capital LLC purchased a new position in Agnico Eagle Mines in the 1st quarter valued at about $2,367,000. WealthTrust Axiom LLC lifted its holdings in Agnico Eagle Mines by 0.9% in the 1st quarter. WealthTrust Axiom LLC now owns 47,075 shares of the mining company's stock valued at $5,103,000 after purchasing an additional 414 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Agnico Eagle Mines by 14.8% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,049,196 shares of the mining company's stock valued at $113,657,000 after purchasing an additional 135,260 shares in the last quarter. Finally, Synovus Financial Corp purchased a new position in Agnico Eagle Mines in the 1st quarter valued at about $237,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AEM. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a research report on Monday, June 30th. Royal Bank Of Canada raised their target price 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. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Five investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Trading Up 0.2%

AEM stock traded up $0.26 during midday trading on Wednesday, reaching $148.00. 2,345,176 shares of the company's stock traded hands, compared to its average volume of 2,933,523. The company has a market capitalization of $74.42 billion, a P/E ratio of 25.16, a PEG ratio of 0.99 and a beta of 0.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $149.94. The business has a 50-day moving average price of $128.08 and a two-hundred day moving average price of $116.78.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. Agnico Eagle Mines's revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 earnings per share. Equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

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.