Atria Wealth Solutions Inc. Trims Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Agnico Eagle Mines Limited by 30.1% during the first quarter, selling 17,147 shares and leaving them with 39,778 shares valued at approximately $4.31 million.
• Multiple analysts have raised their price targets for Agnico Eagle Mines, with Royal Bank of Canada increasing its target from $115.00 to $145.00 and Bank of America raising it from $170.00 to $173.00, reflecting a positive outlook on the company's performance.
• Agnico Eagle Mines recently reported $1.94 EPS for the quarter, exceeding analyst expectations, and its revenues saw a 35.6% year-over-year increase, amounting to $2.86 billion.

Atria Wealth Solutions Inc. reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 30.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,778 shares of the mining company's stock after selling 17,147 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Agnico Eagle Mines were worth $4,312,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock valued at $252,000 after purchasing an additional 331 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Agnico Eagle Mines by 5.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 3,268 shares of the mining company's stock valued at $256,000 after purchasing an additional 183 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Agnico Eagle Mines by 24.5% during the 4th quarter. Quadrant Capital Group LLC now owns 787 shares of the mining company's stock valued at $62,000 after purchasing an additional 155 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Agnico Eagle Mines by 132.9% in the 4th quarter. Renaissance Technologies LLC now owns 282,968 shares of the mining company's stock valued at $22,131,000 after acquiring an additional 161,468 shares in the last quarter. Finally, APG Asset Management N.V. lifted its stake in Agnico Eagle Mines by 395.0% in the 4th quarter. APG Asset Management N.V. now owns 308,970 shares of the mining company's stock valued at $23,332,000 after acquiring an additional 246,550 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on AEM shares. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Royal Bank Of Canada boosted their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a research note on Monday, June 30th. Finally, Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of "Buy" and a consensus target price of $136.90.

Agnico Eagle Mines Price Performance

Shares of AEM stock traded down $0.12 on Friday, hitting $135.66. 2,239,790 shares of the company's stock were exchanged, compared to its average volume of 2,703,854. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The stock has a market cap of $68.21 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 0.94 and a beta of 0.44. Agnico Eagle Mines Limited has a 12 month low of $72.78 and a 12 month high of $137.81. The company has a 50 day moving average of $122.78 and a 200 day moving average of $111.80.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%. The company had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The business's quarterly revenue was up 35.6% on a year-over-year basis. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently announced a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.40 dividend. This represents a dividend yield of 136.0%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio (DPR) is currently 27.21%.

Agnico Eagle Mines Company 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.