Euro Pacific Asset Management LLC Has $56.24 Million Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Euro Pacific Asset Management LLC reduced its holdings in Agnico Eagle Mines by 9.0% during Q2 2023, now holding approximately 473,109 shares valued at $56.24 million, making it the fund's largest position.
• Agnico Eagle Mines has received a consensus rating of Buy from analysts, with several upgrades and a price target of $141.40 following a strong quarterly performance.
• The company reported earnings of $1.94 per share for the last quarter, exceeding estimates, and has experienced a 35.6% increase in revenue year-over-year.

Euro Pacific Asset Management LLC lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 9.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 473,109 shares of the mining company's stock after selling 46,545 shares during the period. Agnico Eagle Mines makes up about 9.1% of Euro Pacific Asset Management LLC's holdings, making the stock its biggest position. Euro Pacific Asset Management LLC owned about 0.09% of Agnico Eagle Mines worth $56,239,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AEM. Valeo Financial Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the 2nd quarter valued at $205,000. Knights of Columbus Asset Advisors LLC bought a new stake in Agnico Eagle Mines during the second quarter valued at $245,000. Marks Group Wealth Management Inc purchased a new position in Agnico Eagle Mines during the second quarter worth about $229,000. Grimes & Company Inc. bought a new position in Agnico Eagle Mines in the 2nd quarter worth about $300,000. Finally, 111 Capital bought a new position in Agnico Eagle Mines in the 2nd quarter worth about $529,000. 68.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AEM has been the topic of several research analyst reports. Zacks Research upgraded shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. Bank of America raised their price objective on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. CIBC reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Finally, National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Seven research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $141.40.

Agnico Eagle Mines Trading Up 0.6%

Shares of AEM opened at $170.45 on Tuesday. The stock has a market capitalization of $85.70 billion, a P/E ratio of 28.99, a PEG ratio of 1.14 and a beta of 0.46. Agnico Eagle Mines Limited has a twelve month low of $75.17 and a twelve month high of $172.21. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $146.31 and a two-hundred day simple moving average of $126.83.

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

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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