Agnico Eagle Mines Limited $AEM Stock Holdings Lowered by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR has reduced its holdings in Agnico Eagle Mines Limited by 29.2%, now owning 442,721 shares valued at approximately $52.7 million.
• Various institutional investors have actively altered their positions in Agnico, with Ritholtz Wealth Management increasing its stake by 55.9% and TD Asset Management acquiring an additional 323,252 shares.
• Analysts are optimistic about Agnico Eagle Mines, with multiple firms raising their price targets, including TD Securities and CIBC, resulting in an average target of $162.10 for the stock.

Generali Asset Management SPA SGR lessened its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 29.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 442,721 shares of the mining company's stock after selling 182,433 shares during the period. Agnico Eagle Mines makes up 1.2% of Generali Asset Management SPA SGR's portfolio, making the stock its 15th biggest position. Generali Asset Management SPA SGR owned approximately 0.09% of Agnico Eagle Mines worth $52,653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AEM. Ritholtz Wealth Management increased its stake in shares of Agnico Eagle Mines by 55.9% in the second quarter. Ritholtz Wealth Management now owns 12,565 shares of the mining company's stock valued at $1,494,000 after purchasing an additional 4,503 shares during the period. Sagespring Wealth Partners LLC grew its holdings in Agnico Eagle Mines by 3.9% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 15,227 shares of the mining company's stock worth $1,811,000 after buying an additional 574 shares in the last quarter. TD Asset Management Inc grew its holdings in Agnico Eagle Mines by 3.6% in the 2nd quarter. TD Asset Management Inc now owns 9,356,548 shares of the mining company's stock worth $1,112,500,000 after buying an additional 323,252 shares in the last quarter. Kiker Wealth Management LLC increased its position in Agnico Eagle Mines by 63.7% in the 2nd quarter. Kiker Wealth Management LLC now owns 2,015 shares of the mining company's stock valued at $240,000 after acquiring an additional 784 shares during the period. Finally, Axxcess Wealth Management LLC boosted its position in Agnico Eagle Mines by 6.9% during the 2nd quarter. Axxcess Wealth Management LLC now owns 5,116 shares of the mining company's stock worth $608,000 after acquiring an additional 329 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AEM has been the topic of a number of research analyst reports. TD Securities raised their price target on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. CIBC boosted their price target on shares of Agnico Eagle Mines from $165.00 to $231.00 and gave the stock an "outperformer" rating in a research report on Friday, October 10th. Raymond James Financial upped their price target on shares of Agnico Eagle Mines from $155.00 to $182.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Zacks Research upgraded shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Six investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $162.10.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $171.31 on Wednesday. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $173.50. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $151.12 and a two-hundred day moving average of $129.26. The company has a market capitalization of $86.14 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 1.14 and a beta of 0.46.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (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 analysts' expectations of $2.46 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The business's revenue was up 35.6% compared to the same quarter last year. As a group, analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share 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.

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