Janney Montgomery Scott LLC Reduces Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Janney Montgomery Scott LLC reduced its stake in Agnico Eagle Mines by 4.0%, now holding 43,675 shares valued at approximately $5.19 million.
• Other institutional investors are actively adjusting their positions, with some increasing stakes significantly, while overall institutional ownership stands at 68.34% of the company's stock.
• Agnico Eagle Mines reported better-than-expected earnings with a net margin of 30.63% and a quarterly revenue of $2.86 billion, surpassing analysts' estimates by over $400 million.

Janney Montgomery Scott LLC trimmed its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 4.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,675 shares of the mining company's stock after selling 1,823 shares during the quarter. Janney Montgomery Scott LLC's holdings in Agnico Eagle Mines were worth $5,194,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC bought a new stake in Agnico Eagle Mines during the 1st quarter worth approximately $226,000. Bank of New York Mellon Corp grew its position in shares of Agnico Eagle Mines by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock valued at $52,613,000 after purchasing an additional 5,717 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Agnico Eagle Mines by 454.9% in the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after purchasing an additional 232 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Agnico Eagle Mines in the first quarter worth $34,000. Finally, OneDigital Investment Advisors LLC bought a new stake in Agnico Eagle Mines during the first quarter valued at $234,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AEM shares. CIBC restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Weiss Ratings reaffirmed a "buy (a)" rating on shares of Agnico Eagle Mines in a research note on Saturday, September 27th. Bank of America boosted their price target on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Zacks Research raised shares of Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Seven research 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $141.40.

Agnico Eagle Mines Trading Up 0.6%

NYSE AEM opened at $170.45 on Tuesday. The stock has a market cap of $85.70 billion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $172.21. The stock has a 50 day simple moving average of $146.31 and a two-hundred day simple moving average of $126.83. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

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. The firm had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The company's quarterly revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company posted $1.07 EPS. On average, analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Company 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.

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