RWA Wealth Partners LLC Sells 3,782 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• RWA Wealth Partners LLC reduced its stake in Agnico Eagle Mines Limited by 6.7% during the first quarter, selling 3,782 shares, and now holds 52,935 shares valued at approximately $5.7 million.
• Agnico Eagle Mines reported a quarterly earnings of $1.94 per share, exceeding the expected $1.83, along with a revenue of $2.86 billion which was above the forecast of $2.46 billion.
• The stock has been positively rated by several analysts, with Bank of America increasing its price target from $170 to $173, affirming a "buy" rating.

RWA Wealth Partners LLC cut its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,935 shares of the mining company's stock after selling 3,782 shares during the quarter. RWA Wealth Partners LLC's holdings in Agnico Eagle Mines were worth $5,739,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DAVENPORT & Co LLC bought a new position in Agnico Eagle Mines in the first quarter valued at about $226,000. Bank of New York Mellon Corp increased its position in Agnico Eagle Mines by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company's stock worth $52,613,000 after purchasing an additional 5,717 shares during the period. Private Trust Co. NA increased its position in 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 acquired a new stake in Agnico Eagle Mines in the first quarter worth about $34,000. Finally, Captrust Financial Advisors increased its position in Agnico Eagle Mines by 6.5% in the fourth quarter. Captrust Financial Advisors now owns 5,663 shares of the mining company's stock worth $443,000 after purchasing an additional 347 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 0.6%

AEM traded up $0.7570 during midday trading on Friday, reaching $137.0970. 2,872,881 shares of the company were exchanged, compared to its average volume of 2,551,285. 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 Limited has a one year low of $75.17 and a one year high of $138.02. The stock has a market capitalization of $68.94 billion, a P/E ratio of 23.32, a PEG ratio of 0.95 and a beta of 0.44. The stock's 50-day simple moving average is $125.39 and its 200 day simple moving average is $114.81.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued 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. 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 analysts' expectations of $2.46 billion. During the same quarter last year, the business earned $1.07 earnings per share. The company's revenue was up 35.6% compared to the same quarter last year. As a group, analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AEM has been the subject of a number of research reports. Royal Bank Of Canada lifted their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. National Bankshares reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Thursday, July 17th. Bank of America lifted their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Lake Street Capital reiterated a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Five 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $136.90.

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.