Vident Advisory LLC Sells 5,019 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Vident Advisory LLC has reduced its stake in Agnico Eagle Mines by 26.5%, holding 13,938 shares valued at approximately $1.51 million.
• Agnico Eagle Mines has received several upgrades from analysts, including a price target increase from Royal Bank Of Canada from $115 to $145 and a consensus target price of $136.90.
• For the last quarter, Agnico Eagle Mines reported an earnings per share (EPS) of $1.94, surpassing analysts' expectations and marking a revenue increase of 35.6% compared to the previous year.

Vident Advisory LLC decreased its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 26.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,938 shares of the mining company's stock after selling 5,019 shares during the quarter. Vident Advisory LLC's holdings in Agnico Eagle Mines were worth $1,511,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of AEM. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Agnico Eagle Mines by 1.5% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock worth $618,000 after acquiring an additional 85 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Agnico Eagle Mines by 31.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock worth $40,000 after acquiring an additional 87 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Agnico Eagle Mines by 2.0% in the 4th quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company's stock worth $428,000 after acquiring an additional 106 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its stake in Agnico Eagle Mines by 1.8% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company's stock worth $543,000 after acquiring an additional 120 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Agnico Eagle Mines by 19.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company's stock worth $84,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

AEM has been the subject of several research analyst reports. National Bankshares reissued an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. Royal Bank Of Canada increased their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. TD Securities raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Lake Street Capital reissued a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Finally, CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Five research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $136.90.

Agnico Eagle Mines Stock Up 2.4%

Shares of AEM traded up $3.54 during midday trading on Friday, reaching $151.93. 3,101,573 shares of the stock were exchanged, compared to its average volume of 2,331,528. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-month high of $152.75. The firm has a 50 day simple moving average of $129.88 and a 200-day simple moving average of $117.87. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The company has a market cap of $76.39 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 1.04 and a beta of 0.45.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data 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 business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business earned $1.07 EPS. The firm's revenue was up 35.6% compared to the same quarter last year. Research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

About Agnico Eagle Mines

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.