Agnico Eagle Mines Limited $AEM Shares Sold by Wilmington Savings Fund Society FSB

Key Points

• Wilmington Savings Fund Society FSB reduced its stake in Agnico Eagle Mines Limited by 11.7%, selling 2,447 shares during the second quarter, now holding 18,466 shares valued at around $2.2 million.
• Agnico Eagle Mines reported stronger-than-expected financial results with an EPS of $1.94, surpassing the consensus estimate by $0.11, and its revenue increased 35.6% year-over-year.
• Wall Street analysts have raised their price targets for Agnico Eagle Mines, with firms like TD Securities and Citigroup setting prices between $195.00 and $198.00, resulting in an average rating of "Buy."

Wilmington Savings Fund Society FSB lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,466 shares of the mining company's stock after selling 2,447 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Agnico Eagle Mines were worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AEM. Ameritas Advisory Services LLC purchased a new position in Agnico Eagle Mines in the 2nd quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Agnico Eagle Mines in the 1st quarter worth about $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in Agnico Eagle Mines in the 1st quarter worth about $26,000. Private Trust Co. NA increased its stake in Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after purchasing an additional 232 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in Agnico Eagle Mines in the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Up 4.4%

Shares of Agnico Eagle Mines stock opened at $178.81 on Thursday. The firm has a market cap of $89.91 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 1.14 and a beta of 0.46. 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 52-week low of $75.17 and a 52-week high of $179.20. The stock has a 50-day simple moving average of $151.98 and a 200-day simple moving average of $129.60.

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 (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates 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 earned $1.07 EPS. On average, equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. TD Securities raised their price objective on Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Citigroup raised their price objective on Agnico Eagle Mines from $140.00 to $198.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group raised their price objective on Agnico Eagle Mines from $125.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. Weiss Ratings restated a "buy (a)" rating on shares of Agnico Eagle Mines in a research report on Wednesday, October 8th. Finally, Bank of America raised their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Six analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $167.90.

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.

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