Kercheville Advisors LLC Sells 6,077 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Kercheville Advisors LLC has decreased its stake in Agnico Eagle Mines Limited by 5.2%, selling 6,077 shares and now holding 111,590 shares, which represents about 4.6% of its investment portfolio.
• Agnico Eagle Mines has raised its revenue by 35.6% year-over-year, reporting $2.86 billion and an EPS of $1.94, exceeding analysts' expectations.
• Several brokerages have upgraded Agnico Eagle Mines to a "strong-buy" rating, with Zacks Research and TD Securities among those increasing their targets, highlighting a consensus target price of $141.40.

Kercheville Advisors LLC cut its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,590 shares of the mining company's stock after selling 6,077 shares during the period. Agnico Eagle Mines accounts for approximately 4.6% of Kercheville Advisors LLC's investment portfolio, making the stock its 4th largest holding. Kercheville Advisors LLC's holdings in Agnico Eagle Mines were worth $13,271,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Agnico Eagle Mines by 1.5% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock worth $618,000 after buying an additional 85 shares during the period. Hexagon Capital Partners LLC increased its position in Agnico Eagle Mines by 31.1% in the first quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock worth $40,000 after buying an additional 87 shares during the period. Continuum Advisory LLC increased its position in Agnico Eagle Mines by 47.0% in the first quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock worth $43,000 after buying an additional 127 shares during the period. Sapient Capital LLC increased its holdings in shares of Agnico Eagle Mines by 1.2% during the first quarter. Sapient Capital LLC now owns 10,984 shares of the mining company's stock valued at $1,191,000 after purchasing an additional 128 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Agnico Eagle Mines by 2.0% during the first quarter. US Bancorp DE now owns 6,908 shares of the mining company's stock valued at $749,000 after purchasing an additional 138 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AEM. Zacks Research raised Agnico Eagle Mines from a "hold" rating to a "strong-buy" rating in a report on Wednesday. UBS Group raised their price target on Agnico Eagle Mines from $125.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, September 19th. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a report on Thursday, July 17th. Weiss Ratings reissued a "buy (a)" rating on shares of Agnico Eagle Mines in a report on Saturday, September 27th. Finally, Bank of America raised their price target on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Seven investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of "Buy" and a consensus target price of $141.40.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $169.40 on Friday. The business's 50-day moving average price is $145.38 and its 200 day moving average price is $126.23. The firm has a market cap of $85.18 billion, a P/E ratio of 28.81, a PEG ratio of 1.14 and a beta of 0.46. Agnico Eagle Mines Limited has a 52-week low of $75.17 and a 52-week high of $171.45. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03.

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