Allspring Global Investments Holdings LLC Has $110.51 Million Stock Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Allspring Global Investments increased its stake in Agnico Eagle Mines by 2.3% in the first quarter, holding 538,236 shares worth about $110.5 million as of its latest filing.
• Agnico Eagle Mines reported strong quarterly results, with EPS of $3.40 beating estimates and revenue of $4 billion, up 66.1% year over year.
• Analyst sentiment remains constructive overall, with 12 Buy ratings and 5 Hold ratings; however, several firms recently trimmed price targets, and the average target now stands at $233.62.

Allspring Global Investments Holdings LLC increased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 538,236 shares of the mining company's stock after acquiring an additional 12,157 shares during the period. Allspring Global Investments Holdings LLC owned about 0.11% of Agnico Eagle Mines worth $110,509,000 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. Acumen Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $26,000. Abound Wealth Management raised its holdings in Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company's stock valued at $35,000 after buying an additional 104 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter worth about $35,000. Jessup Wealth Management Inc acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter worth about $35,000. Finally, Bangor Savings Bank bought a new stake in shares of Agnico Eagle Mines during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Trading Down 0.3%

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

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

Analysts Set New Price Targets

A number of research analysts have recently commented on AEM shares. Bank of America lowered their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their target price on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Wall Street Zen downgraded Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Scotiabank dropped their price target on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating on the stock in a research report on Tuesday. Finally, Canadian Imperial Bank of Commerce set a $285.00 price objective on shares of Agnico Eagle Mines in a research note on Thursday. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of "Moderate Buy" and an average price target of $233.62.

Agnico Eagle Mines Company Profile

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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