Evelyn Partners Investment Management LLP Reduces Holdings in Agnico Eagle Mines Limited $AEM

Evelyn Partners Investment Management LLP lowered its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.5% in the first quarter, HoldingsChannel.com reports. The fund owned 126,725 shares of the mining company’s stock after selling 4,650 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Agnico Eagle Mines were worth $25,729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acumen Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $26,000. Lodestone Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth approximately $35,000. Jessup Wealth Management Inc purchased a new stake in Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. Bangor Savings Bank purchased a new stake in Agnico Eagle Mines in the 4th quarter valued at approximately $37,000. Finally, University of Texas Texas AM Investment Management Co. grew its holdings in Agnico Eagle Mines by 64.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 229 shares of the mining company’s stock valued at $39,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $145.89 on Tuesday. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a fifty-two week low of $122.32 and a fifty-two week high of $255.24. The business has a 50 day moving average price of $159.78 and a two-hundred day moving average price of $190.32. The firm has a market cap of $74.05 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 2.21 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.Agnico Eagle Mines’s quarterly revenue was up 66.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 EPS. Sell-side analysts expect that Agnico Eagle Mines Limited will post 11.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group dropped their price target on Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Scotia decreased their price objective on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 3rd. Royal Bank Of Canada dropped their price objective on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce set a $285.00 price objective on shares of Agnico Eagle Mines in a research report on Thursday, July 16th. Finally, TD increased their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and an average target price of $225.69.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.