Phoenix Financial Ltd. Lowers Stake in Agnico Eagle Mines Limited $AEM

Phoenix Financial Ltd. reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 43.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,997 shares of the mining company’s stock after selling 3,773 shares during the period. Phoenix Financial Ltd.’s holdings in Agnico Eagle Mines were worth $843,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Red Cedar Investment Management LLC boosted its holdings in shares of Agnico Eagle Mines by 3.7% in the 3rd quarter. Red Cedar Investment Management LLC now owns 32,673 shares of the mining company’s stock worth $5,507,000 after purchasing an additional 1,177 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Agnico Eagle Mines by 7.3% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,830 shares of the mining company’s stock worth $4,860,000 after buying an additional 1,959 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Agnico Eagle Mines by 12.6% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 19,766 shares of the mining company’s stock worth $3,332,000 after buying an additional 2,216 shares in the last quarter. EWA LLC bought a new position in Agnico Eagle Mines during the third quarter valued at approximately $220,000. Finally, Sagespring Wealth Partners LLC raised its stake in shares of Agnico Eagle Mines by 7.5% during the third quarter. Sagespring Wealth Partners LLC now owns 16,374 shares of the mining company’s stock worth $2,760,000 after acquiring an additional 1,147 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AEM shares. Citigroup upped their price objective on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Scotiabank raised their price objective on Agnico Eagle Mines from $219.00 to $276.00 and gave the company an “outperform” rating in a research note on Monday. Wall Street Zen upgraded Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. Finally, Bank of America increased their target price on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Four research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Buy” and a consensus price target of $217.40.

Agnico Eagle Mines Stock Up 0.2%

Shares of NYSE:AEM opened at $215.77 on Wednesday. Agnico Eagle Mines Limited has a 1 year low of $88.86 and a 1 year high of $223.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.12 and a quick ratio of 1.31. The stock’s 50-day moving average is $180.07 and its 200 day moving average is $160.67. The company has a market cap of $108.03 billion, a PE ratio of 31.50, a P/E/G ratio of 0.63 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.40. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Agnico Eagle Mines had a return on equity of 15.64% and a net margin of 32.62%.During the same period in the previous year, the firm earned $1.14 earnings per share. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

About Agnico Eagle Mines

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.