McAlvany Wealth Management LLC Sells 4,543 Shares of Agnico Eagle Mines Limited $AEM

McAlvany Wealth Management LLC trimmed its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.2% during the first quarter, HoldingsChannel reports. The fund owned 32,547 shares of the mining company’s stock after selling 4,543 shares during the quarter. Agnico Eagle Mines comprises 3.9% of McAlvany Wealth Management LLC’s holdings, making the stock its 7th largest position. McAlvany Wealth Management LLC’s holdings in Agnico Eagle Mines were worth $6,244,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines during the fourth quarter valued at $26,000. Lodestone Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth $35,000. Jessup Wealth Management Inc bought a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $35,000. Abound Wealth Management grew its stake in shares of Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares during the last quarter. Finally, Bangor Savings Bank acquired a new stake in Agnico Eagle Mines in the fourth quarter valued at $37,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Citigroup reaffirmed a “positive” rating on shares of Agnico Eagle Mines in a research report on Wednesday. Barclays reduced their price target on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a research report on Wednesday. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Bank of America lowered their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Scotiabank cut their price objective on Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating on the stock in a research note on Tuesday. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $233.62.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $136.89 on Friday. The firm has a 50 day moving average of $165.41 and a 200-day moving average of $191.42. The company has a market cap of $69.48 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.81 and a beta of 0.60. 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 52 week low of $117.65 and a 52 week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released 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 the consensus estimate of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. Agnico Eagle Mines’s quarterly revenue was up 66.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.53 EPS. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 12.39 earnings per share for the current year.

Agnico Eagle Mines Company 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.