Guggenheim Capital LLC Sells 2,553 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Guggenheim Capital LLC reduced its stake in Agnico Eagle Mines by 2.2%, owning 114,781 shares valued at approximately $12.44 million following the sale of 2,553 shares.
• Agnico Eagle Mines reported a quarterly earnings per share of $1.94, exceeding analysts' expectations by $0.11, with revenues of $2.86 billion, a 35.6% increase year-over-year.
• Analysts have a consensus rating of "Buy" on Agnico Eagle Mines, with price targets ranging from $130.00 to $173.00, indicating strong investor confidence in the stock.

Guggenheim Capital LLC trimmed its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,781 shares of the mining company's stock after selling 2,553 shares during the period. Guggenheim Capital LLC's holdings in Agnico Eagle Mines were worth $12,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its stake in Agnico Eagle Mines by 3.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock valued at $1,457,160,000 after purchasing an additional 499,362 shares in the last quarter. Deutsche Bank AG raised its position in shares of Agnico Eagle Mines by 0.7% during the 4th quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock worth $932,008,000 after purchasing an additional 87,410 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Agnico Eagle Mines by 42.8% during the first quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock worth $978,553,000 after buying an additional 2,709,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Agnico Eagle Mines by 11.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock worth $728,214,000 after acquiring an additional 673,400 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Agnico Eagle Mines by 10.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,395 shares of the mining company's stock valued at $214,361,000 after buying an additional 189,935 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded up $2.97 on Tuesday, reaching $146.74. 2,546,345 shares of the company traded hands, compared to its average volume of 2,918,326. The company's 50 day moving average is $127.53 and its 200-day moving average is $116.56. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $147.27. 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 capitalization of $73.78 billion, a PE ratio of 24.90, a P/E/G ratio of 0.99 and a beta of 0.44.

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

Analyst Upgrades and Downgrades

AEM has been the subject of several recent analyst reports. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective on the stock in a report on Monday, June 30th. TD Securities raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada increased their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Five analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines 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.