Stack Financial Management Inc Decreases Stock Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Stack Financial Management Inc reduced its stake in Agnico Eagle Mines by 31.0%, selling 115,400 shares in the second quarter, leaving them with 256,951 shares valued at approximately $30.56 million.
• Agnico Eagle Mines reported earnings per share of $1.94 for the last quarter, exceeding estimates by $0.11, with revenue rising 35.6% compared to the previous year.
• Wall Street analysts have a positive outlook on Agnico Eagle Mines, with an average rating of "Buy" and price target of $162.10, following upgrades from several firms.

Stack Financial Management Inc lessened its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 31.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 256,951 shares of the mining company's stock after selling 115,400 shares during the period. Agnico Eagle Mines makes up about 2.7% of Stack Financial Management Inc's portfolio, making the stock its 10th largest holding. Stack Financial Management Inc owned approximately 0.05% of Agnico Eagle Mines worth $30,559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings 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 purchasing an additional 85 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of Agnico Eagle Mines by 31.1% during the 1st 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 stake in shares of Agnico Eagle Mines by 47.0% in the 1st quarter. Continuum Advisory LLC now owns 397 shares of the mining company's stock valued at $43,000 after acquiring an additional 127 shares in the last quarter. US Bancorp DE boosted its stake in Agnico Eagle Mines by 2.0% during the first quarter. US Bancorp DE now owns 6,908 shares of the mining company's stock worth $749,000 after acquiring an additional 138 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Agnico Eagle Mines by 8.2% in the second quarter. Parallel Advisors LLC now owns 1,871 shares of the mining company's stock worth $223,000 after purchasing an additional 142 shares during the period. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Up 1.6%

AEM stock opened at $164.28 on Monday. The stock's fifty day simple moving average is $149.57 and its two-hundred day simple moving average is $128.51. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $172.21. The stock has a market cap of $82.60 billion, a P/E ratio of 27.94, a P/E/G ratio of 1.09 and a beta of 0.46.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $2.86 billion during 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%.The business's revenue was up 35.6% compared to the same quarter last year. During the same period last year, the firm posted $1.07 EPS. Analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Lake Street Capital restated a "buy" rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. TD Securities lifted their price target on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. National Bankshares reiterated an "outperform" rating on shares of Agnico Eagle Mines in a report on Tuesday, June 24th. Weiss Ratings restated a "buy (a)" rating on shares of Agnico Eagle Mines in a research note on Wednesday, October 8th. Finally, Bank of America lifted their price objective on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Six investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of "Buy" and an average price target of $162.10.

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.

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