Genus Capital Management Inc. Reduces Stake in Agnico Eagle Mines Limited $AEM

Key Points

• Genus Capital Management cut its Agnico Eagle Mines stake by 37.8% in the fourth quarter, selling 37,340 shares and leaving it with 61,367 shares valued at about $10.4 million.
• Agnico Eagle is moving ahead with a major US$2.4 billion Hope Bay restart and expansion in Nunavut, aimed at building an underground gold mine and processing facility to support future production growth.
• The company recently beat quarterly earnings and revenue expectations, reporting $3.40 EPS on $4 billion in revenue, while analysts maintain a Moderate Buy consensus with an average price target of $236.08.

Genus Capital Management Inc. lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 37.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,367 shares of the mining company's stock after selling 37,340 shares during the period. Agnico Eagle Mines makes up approximately 1.2% of Genus Capital Management Inc.'s investment portfolio, making the stock its 24th biggest position. Genus Capital Management Inc.'s holdings in Agnico Eagle Mines were worth $10,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Salvus Wealth Management LLC grew its position in Agnico Eagle Mines by 0.9% in the fourth quarter. Salvus Wealth Management LLC now owns 6,301 shares of the mining company's stock worth $1,068,000 after acquiring an additional 57 shares in the last quarter. Brookwood Investment Group LLC grew its position in Agnico Eagle Mines by 4.5% in the fourth quarter. Brookwood Investment Group LLC now owns 1,361 shares of the mining company's stock worth $231,000 after acquiring an additional 58 shares in the last quarter. Baron Wealth Management LLC grew its position in Agnico Eagle Mines by 3.2% in the fourth quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company's stock worth $319,000 after acquiring an additional 59 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Agnico Eagle Mines by 1.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company's stock worth $893,000 after acquiring an additional 59 shares in the last quarter. Finally, Baker Ellis Asset Management LLC lifted its stake in Agnico Eagle Mines by 0.8% in the fourth quarter. Baker Ellis Asset Management LLC now owns 7,550 shares of the mining company's stock worth $1,280,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

Key Headlines Impacting Agnico Eagle Mines

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

• Positive Sentiment: Agnico Eagle announced a major restart and expansion of its Hope Bay project in Nunavut, committing US$2.4 billion to build an underground gold mine and processing facility. The move supports future production growth and reinforces the company’s long-term development pipeline. Agnico Eagle Mines (AEM) To Begin Redevelopment Of The Hope Bay Mine With $2.4 Billion Investment
• Positive Sentiment: The company also expanded its stake in Wallbridge Mining by investing C$22.4 million, lifting ownership to about 19.9%. That investment could help advance Wallbridge’s Fenelon gold project and gives Agnico more exposure to additional Quebec gold assets. Agnico Eagle Expands Wallbridge Stake Through C$22.4M Investment
• Neutral Sentiment: Recent coverage highlighted Agnico Eagle’s strong earnings quality, cash-rich balance sheet, and profitability, which may support investor confidence but did not appear to be a new market-moving catalyst on its own. Agnico Eagle Earnings Call Highlights Cash-Rich Growth
• Negative Sentiment: Investors are also focusing on valuation and execution risk after a recent selloff, with shares down over the past month and quarter. The big Hope Bay commitment raises future growth potential, but it also increases capital spending expectations and near-term pressure on returns. Agnico Eagle: A 15 Percent Selloff In A Best-In-Class Gold Miner

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $175.79 on Monday. The company has a 50 day moving average price of $197.96 and a 200-day moving average price of $193.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. Agnico Eagle Mines Limited has a fifty-two week low of $114.60 and a fifty-two week high of $255.24. The company has a market capitalization of $87.98 billion, a PE ratio of 16.52, a P/E/G ratio of 3.84 and a beta of 0.58.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the firm posted $1.53 earnings per share. The company's revenue was up 66.1% on a year-over-year basis. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 13.14 earnings per share for the current year.

Analysts Set New Price Targets

AEM has been the subject of several analyst reports. Zacks Research downgraded shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. TD Securities raised their price objective on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. raised their price objective on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce decreased their price objective on shares of Agnico Eagle Mines from $312.00 to $304.00 and set an "outperform" rating for the company in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $236.08.

Agnico Eagle Mines 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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