Montrusco Bolton Investments Inc. Has $32.93 Million Stake in Agnico Eagle Mines Limited $AEM

Key Points

• Montrusco Bolton Investments Inc. cut its Agnico Eagle Mines stake by 4.9% in the first quarter, but still held 162,760 shares worth about $32.93 million at quarter-end.
• Institutional ownership remains high, with hedge funds and other institutions owning 68.34% of Agnico Eagle’s stock, and several other investors also adjusted positions during the quarter.
• Analysts remain cautiously positive overall: the stock has a Moderate Buy consensus with an average price target of $236.23, though some firms trimmed targets slightly after recent operational concerns.

Montrusco Bolton Investments Inc. reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,760 shares of the mining company's stock after selling 8,364 shares during the quarter. Montrusco Bolton Investments Inc.'s holdings in Agnico Eagle Mines were worth $32,932,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Koshinski Asset Management Inc. increased its stake in shares of Agnico Eagle Mines by 9.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 2,506 shares of the mining company's stock valued at $509,000 after buying an additional 221 shares during the period. Oxbow Advisors LLC lifted its stake in shares of Agnico Eagle Mines by 1.0% during the first quarter. Oxbow Advisors LLC now owns 87,269 shares of the mining company's stock valued at $17,714,000 after acquiring an additional 878 shares during the period. HB Wealth Management LLC lifted its stake in shares of Agnico Eagle Mines by 5.0% during the first quarter. HB Wealth Management LLC now owns 6,686 shares of the mining company's stock valued at $1,357,000 after acquiring an additional 320 shares during the period. Moran Wealth Management LLC boosted its holdings in Agnico Eagle Mines by 14.1% in the first quarter. Moran Wealth Management LLC now owns 15,985 shares of the mining company's stock valued at $3,245,000 after acquiring an additional 1,970 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in Agnico Eagle Mines in the first quarter valued at about $4,211,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Canadian Imperial Bank of Commerce boosted their price objective on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an "outperform" rating in a report on Tuesday, May 26th. Scotia lowered their price target on shares of Agnico Eagle Mines from $280.00 to $278.00 and set a "sector outperform" rating for the company in a research report on Friday. JPMorgan Chase & Co. boosted their price target 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. Erste Group Bank lowered shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Tuesday, March 24th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $236.23.

More Agnico Eagle Mines News

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

• Negative Sentiment: Agnico Eagle suspended mining at the Barnat open pit after a rock mass movement, creating uncertainty around production at the Canadian Malartic complex. AGNICO EAGLE REPORTS WALL MOVEMENT AT BARNAT OPEN PIT AT CANADIAN MALARTIC
• Negative Sentiment: Several reports highlighted the operational issue and possible production impact, reinforcing the market’s concern about a short-term earnings headwind. Agnico Eagle suspends Quebec pit mining, flags production hit
• Neutral Sentiment: Scotia slightly lowered its price target on Agnico Eagle to $278 from $280 while keeping a “sector outperform” rating, signaling continued optimism despite the recent operational setback. BayStreet.CA analyst ratings

Agnico Eagle Mines Trading Down 0.0%

NYSE AEM opened at $153.80 on Friday. Agnico Eagle Mines Limited has a 12 month low of $115.19 and a 12 month high of $255.24. The stock has a 50-day simple moving average of $174.55 and a 200 day simple moving average of $193.54. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $78.06 billion, a PE ratio of 14.45, a P/E/G ratio of 3.37 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.19 by $0.21. The firm 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%.The company's revenue was up 66.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.53 earnings per share. Research analysts forecast that Agnico Eagle Mines Limited will post 13.22 EPS for the current year.

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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