NewEdge Advisors LLC Sells 9,124 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• NewEdge Advisors cut its Agnico Eagle Mines stake by 53.1% in the second quarter, selling 9,124 shares and retaining 8,067 shares valued at approximately $1.25 million.
• Institutional ownership remains substantial at 68.34%, with several investors increasing positions or initiating new stakes during the quarter.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $227.15. Agnico also exceeded quarterly EPS expectations, reporting $3.05 versus the $2.89 consensus estimate.

NewEdge Advisors LLC decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 53.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,067 shares of the mining company's stock after selling 9,124 shares during the quarter. NewEdge Advisors LLC's holdings in Agnico Eagle Mines were worth $1,251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BIP Wealth LLC bought a new stake in shares of Agnico Eagle Mines during the 2nd quarter worth about $1,167,000. Annex Advisory Services LLC lifted its holdings in Agnico Eagle Mines by 70.5% in the 2nd quarter. Annex Advisory Services LLC now owns 29,007 shares of the mining company's stock worth $4,500,000 after purchasing an additional 11,995 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new stake in Agnico Eagle Mines in the 2nd quarter worth approximately $6,923,000. PensionDanmark Pensionsforsikringsaktieselskab boosted its position in Agnico Eagle Mines by 12.0% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,312 shares of the mining company's stock worth $16,046,000 after purchasing an additional 11,100 shares during the period. Finally, Danske Bank A S bought a new stake in Agnico Eagle Mines during the second quarter worth approximately $737,000. Institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Agnico Eagle Mines from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Raymond James Financial decreased their price target on shares of Agnico Eagle Mines from $230.00 to $225.00 and set an "outperform" rating for the company in a report on Friday, September 4th. UBS Group lowered their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. Weiss Ratings lowered Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 2nd. Finally, Wall Street Zen cut Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $227.15.

Agnico Eagle Mines Trading Up 0.1%

Agnico Eagle Mines stock opened at $199.75 on Monday. The business has a 50 day moving average price of $179.32 and a two-hundred day moving average price of $184.27. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 12 month low of $134.38 and a 12 month high of $255.24. The stock has a market cap of $101.25 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 2.48 and a beta of 0.67.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.16. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.78 billion. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.Agnico Eagle Mines's revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 EPS. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 11.58 EPS for the current year.

Agnico Eagle Mines News Roundup

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

• Positive Sentiment: Strategic investment in Scout Discoveries: Agnico Eagle agreed to invest $14.8 million for a 14.9% stake in Scout as part of a combined $25 million private placement. The funds will support exploration at Scout’s Idaho projects, potentially giving AEM exposure to additional U.S. mineral resources. Agnico Eagle to Invest $14.8 Million in Scout Discoveries
• Positive Sentiment: Long-term exploration upside: Under the agreement, Agnico Eagle can earn up to a 70% interest in Scout’s Elk City and Muldoon projects by funding as much as $90 million in exploration over eight years. This could expand AEM’s project pipeline, although the benefits depend on exploration success. Scout Discoveries Strategic Investment and Earn-In Agreement
• Positive Sentiment: Gold-market support and analyst optimism: Gold miners recently benefited from a rebound in bullion prices, while a Royal Bank of Canada analyst reportedly expects AEM’s stock to rise. These factors support investor sentiment, though commodity prices remain volatile. Gold Miners Rally as Bullion Rebounds
• Neutral Sentiment: El Barqueño divestiture: Luca Mining agreed to acquire 100% of AEM’s El Barqueño property. The sale may reflect portfolio optimization and could provide proceeds, but the financial terms and any effect on Agnico Eagle’s production outlook were not disclosed. Luca Mining to Acquire El Barqueño from Agnico Eagle

About Agnico Eagle Mines

Agnico Eagle Mines Limited is a Canadian-based gold mining company engaged in the exploration, development and production of gold and other mineral resources. The company's primary product is gold, with silver and other byproducts also recovered from certain operations. Its activities include operating mines, advancing development projects and conducting exploration to expand and replace mineral reserves.

Founded in 1957 through the merger of Agnico Mines and Eagle Mines, Agnico Eagle has grown into one of the world's major gold producers.

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