Corient Private Wealth LP Sells 13,790 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Corient Private Wealth reduced its Agnico Eagle Mines stake by 29% in the second quarter, selling 13,790 shares and retaining 33,709 shares valued at approximately $5.23 million. Institutional investors collectively own 68.34% of the company.
• Agnico Eagle reported quarterly earnings of $3.05 per share, exceeding estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. The company posted a 40.44% net margin and 22.04% return on equity.
• Analyst sentiment remains generally positive, with 12 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $227.15, despite several analysts recently lowering their targets.

Corient Private Wealth LP lowered its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 29.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,709 shares of the mining company's stock after selling 13,790 shares during the period. Corient Private Wealth LP's holdings in Agnico Eagle Mines were worth $5,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of AEM. Markowski Investments bought a new position in shares of Agnico Eagle Mines during the 2nd quarter worth $29,000. Dunhill Financial LLC bought a new position in Agnico Eagle Mines during the 2nd quarter worth about $31,000. Fiduciary Financial Advisors purchased a new position in Agnico Eagle Mines during the second quarter valued at approximately $32,000. University of Texas Texas AM Investment Management Co. increased its holdings in Agnico Eagle Mines by 64.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company's stock valued at $39,000 after buying an additional 90 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in Agnico Eagle Mines during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $199.75 on Friday. The company has a market capitalization of $101.25 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 2.50 and a beta of 0.67. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 52-week low of $134.38 and a 52-week high of $255.24. The stock has a 50 day moving average price of $179.32 and a 200 day moving average price of $184.75.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $0.16. The business had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company's quarterly revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS. Research analysts predict that Agnico Eagle Mines Limited will post 11.58 EPS for the current fiscal year.

Key Agnico Eagle Mines News

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Strategic investment in Scout Discoveries: Agnico Eagle agreed to invest $14.8 million for a 14.9% stake in Scout as part of a combined $25 million private placement. The funds will support exploration at Scout’s Idaho projects, potentially giving AEM exposure to additional U.S. mineral resources. Agnico Eagle to Invest $14.8 Million in Scout Discoveries
• Positive Sentiment: Long-term exploration upside: Under the agreement, Agnico Eagle can earn up to a 70% interest in Scout’s Elk City and Muldoon projects by funding as much as $90 million in exploration over eight years. This could expand AEM’s project pipeline, although the benefits depend on exploration success. Scout Discoveries Strategic Investment and Earn-In Agreement
• Positive Sentiment: Gold-market support and analyst optimism: Gold miners recently benefited from a rebound in bullion prices, while a Royal Bank of Canada analyst reportedly expects AEM’s stock to rise. These factors support investor sentiment, though commodity prices remain volatile. Gold Miners Rally as Bullion Rebounds
• Neutral Sentiment: El Barqueño divestiture: Luca Mining agreed to acquire 100% of AEM’s El Barqueño property. The sale may reflect portfolio optimization and could provide proceeds, but the financial terms and any effect on Agnico Eagle’s production outlook were not disclosed. Luca Mining to Acquire El Barqueño from Agnico Eagle

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AEM shares. Jefferies Financial Group raised shares of Agnico Eagle Mines from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $187.00 to $200.00 in a research report on Monday, July 6th. Scotiabank dropped their price target on Agnico Eagle Mines from $278.00 to $260.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, July 14th. 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. JPMorgan Chase & Co. increased their price objective on shares of Agnico Eagle Mines from $175.00 to $179.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Finally, UBS Group dropped their target price on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $227.15.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited is a Canadian-based gold mining company engaged in the exploration, development and production of gold and other mineral resources. The company's primary product is gold, with silver and other byproducts also recovered from certain operations. Its activities include operating mines, advancing development projects and conducting exploration to expand and replace mineral reserves.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world's major gold producers.

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