Agnico Eagle Mines Limited $AEM Shares Sold by Sigma Planning Corp

Key Points

• Sigma Planning Corp cut its Agnico Eagle Mines stake by 56.6% in the first quarter, selling 8,991 shares and leaving it with 6,891 shares valued at about $1.4 million.
• Agnico Eagle Mines reported strong quarterly results, with EPS of $3.40 beating estimates and revenue of $4 billion topping expectations; revenue rose 66.1% year over year.
• Analyst sentiment remains generally positive, with Jefferies upgrading the stock to buy and the consensus rating still at Moderate Buy, though some firms have trimmed targets or downgraded the stock recently.

Sigma Planning Corp decreased its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 56.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,891 shares of the mining company's stock after selling 8,991 shares during the quarter. Sigma Planning Corp's holdings in Agnico Eagle Mines were worth $1,399,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AEM. Acumen Wealth Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $26,000. Abound Wealth Management boosted its stake in Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company's stock valued at $35,000 after acquiring an additional 104 shares during the last quarter. Lodestone Wealth Management LLC acquired a new position in Agnico Eagle Mines during the 4th quarter worth $35,000. Jessup Wealth Management Inc bought a new stake in shares of Agnico Eagle Mines in the 4th quarter worth about $35,000. Finally, Bangor Savings Bank acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at about $37,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $136.89 on Friday. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $165.41 and a two-hundred day moving average of $191.42. Agnico Eagle Mines Limited has a 52 week low of $117.65 and a 52 week high of $255.24. The company has a market cap of $69.48 billion, a P/E ratio of 12.87, a PEG ratio of 1.81 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping analysts' consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion for the quarter, compared to analysts' expectations of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business's quarterly revenue was up 66.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.53 EPS. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 12.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Jefferies Financial Group upgraded Agnico Eagle Mines from a "hold" rating to a "buy" rating and lifted their price target for the stock from $187.00 to $200.00 in a research note on Monday, July 6th. Erste Group Bank lowered Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research report on Tuesday, March 24th. Zacks Research downgraded Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Royal Bank Of Canada dropped their price target on Agnico Eagle Mines from $230.00 to $210.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 9th. Finally, Weiss Ratings downgraded shares of Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of "Moderate Buy" and a consensus price target of $233.62.

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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