Price T Rowe Associates Inc. MD Decreases Position in Agnico Eagle Mines Limited $AEM

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Agnico Eagle Mines by 3.6%, selling 27,662 shares and holding approximately 742,516 shares valued at $80.5 million.
• Agnico Eagle Mines reported strong quarterly earnings, with an EPS of $1.94, exceeding analysts' estimates by $0.11, alongside a notable revenue increase of 35.6% year-over-year.
• The stock has received positive ratings from analysts, with a consensus rating of "Buy" and a target price of $136.90, while the stock is currently down 0.4% with a latest price of $136.67.

Price T Rowe Associates Inc. MD lessened its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 3.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 742,516 shares of the mining company's stock after selling 27,662 shares during the period. Price T Rowe Associates Inc. MD owned 0.15% of Agnico Eagle Mines worth $80,497,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in Agnico Eagle Mines during the first quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC acquired a new position in Agnico Eagle Mines during the first quarter worth approximately $26,000. Private Trust Co. NA increased its position in Agnico Eagle Mines by 454.9% during the first quarter. Private Trust Co. NA now owns 283 shares of the mining company's stock worth $31,000 after buying an additional 232 shares during the period. Golden State Wealth Management LLC acquired a new position in Agnico Eagle Mines during the first quarter worth approximately $34,000. Finally, Dagco Inc. acquired a new position in Agnico Eagle Mines during the first quarter worth approximately $39,000. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock traded up $5.12 during trading on Friday, reaching $144.23. The company's stock had a trading volume of 2,801,181 shares, compared to its average volume of 2,922,280. 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 Limited has a 12-month low of $75.17 and a 12-month high of $144.78. The company has a market capitalization of $72.52 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 0.96 and a beta of 0.44. The business has a 50 day moving average price of $126.63 and a 200-day moving average price of $115.68.

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

Wall Street Analysts Forecast Growth

AEM has been the topic of several research analyst reports. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Bank of America boosted their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price on the stock in a report on Monday, June 30th. Royal Bank Of Canada boosted their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, CIBC reissued an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of "Buy" and a consensus target price 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.