Euro Pacific Asset Management LLC Lowers Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Euro Pacific Asset Management trimmed its stake in Agnico Eagle Mines by 1.7% in the first quarter, selling 7,528 shares and leaving it with 447,528 shares. The position remains its largest holding, making up about 8% of the portfolio.
• Agnico Eagle Mines reported strong first-quarter results, with EPS of $3.40 beating estimates and revenue of $4.0 billion topping expectations. Revenue also rose 66.1% year over year.
• Despite the stock trading down 0.3% to $136.89, analysts remain broadly constructive: the consensus rating is Moderate Buy with an average target price of $233.62.

Euro Pacific Asset Management LLC lessened its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 447,528 shares of the mining company's stock after selling 7,528 shares during the quarter. Agnico Eagle Mines comprises about 8.0% of Euro Pacific Asset Management LLC's investment portfolio, making the stock its biggest holding. Euro Pacific Asset Management LLC owned 0.09% of Agnico Eagle Mines worth $84,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AEM. Sumitomo Mitsui Trust Group Inc. grew its position in Agnico Eagle Mines by 42.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company's stock worth $11,088,000 after purchasing an additional 19,647 shares during the period. Gunderson Capital Management Inc. raised its stake in Agnico Eagle Mines by 187.6% during the 4th quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company's stock valued at $8,155,000 after buying an additional 31,378 shares during the last quarter. TB Alternative Assets Ltd. lifted its holdings in shares of Agnico Eagle Mines by 34.2% during the 4th quarter. TB Alternative Assets Ltd. now owns 229,630 shares of the mining company's stock valued at $38,929,000 after buying an additional 58,490 shares during the period. J. Safra Sarasin Holding AG lifted its holdings in shares of Agnico Eagle Mines by 36.1% during the 4th quarter. J. Safra Sarasin Holding AG now owns 46,141 shares of the mining company's stock valued at $7,822,000 after buying an additional 12,244 shares during the period. Finally, SteelPeak Wealth LLC purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth $2,198,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Down 0.3%

NYSE:AEM opened at $136.89 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The firm has a market capitalization of $69.48 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.81 and a beta of 0.60. Agnico Eagle Mines Limited has a one year low of $117.65 and a one year high of $255.24. The business has a fifty day moving average price of $165.41 and a 200-day moving average price of $191.42.

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

Analyst Ratings Changes

Several analysts recently commented on AEM shares. JPMorgan Chase & Co. lifted their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a report on Monday, May 4th. UBS Group dropped their target price on 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. Zacks Research downgraded Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Finally, Citigroup reaffirmed a "positive" rating on shares of Agnico Eagle Mines in a research report on Wednesday. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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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