Wilmington Savings Fund Society FSB Sells 2,447 Shares of Agnico Eagle Mines Limited $AEM

Wilmington Savings Fund Society FSB trimmed its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.7% during the second quarter, Holdings Channel reports. The fund owned 18,466 shares of the mining company’s stock after selling 2,447 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Agnico Eagle Mines were worth $2,196,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. TD Asset Management Inc increased its position in Agnico Eagle Mines by 42.8% in the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock worth $978,553,000 after buying an additional 2,709,005 shares during the period. Canada Pension Plan Investment Board increased its position in Agnico Eagle Mines by 57.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,344,302 shares of the mining company’s stock worth $254,029,000 after buying an additional 854,924 shares during the period. Nuveen LLC bought a new position in Agnico Eagle Mines in the 1st quarter worth approximately $85,926,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Agnico Eagle Mines by 11.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company’s stock worth $728,214,000 after buying an additional 673,400 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Agnico Eagle Mines by 3.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company’s stock worth $1,457,160,000 after buying an additional 499,362 shares during the period. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM opened at $178.81 on Thursday. The business’s fifty day moving average price is $151.98 and its two-hundred day moving average price is $129.60. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $179.20. The stock has a market capitalization of $89.91 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced 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 analysts’ expectations of $2.46 billion. During the same period in the prior year, the business posted $1.07 earnings per share. The business’s revenue was up 35.6% compared to the same quarter last year. As a group, analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AEM. Lake Street Capital reaffirmed a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. TD Securities boosted their price objective on Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. UBS Group boosted their price objective on Agnico Eagle Mines from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, September 19th. Bank of America boosted their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Finally, Raymond James Financial boosted their price objective on Agnico Eagle Mines from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Six research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $167.90.

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.