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

McAlvany Wealth Management LLC reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,547 shares of the mining company’s stock after selling 4,543 shares during the quarter. Agnico Eagle Mines comprises about 3.9% of McAlvany Wealth Management LLC’s portfolio, 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 hedge funds and other institutional investors also recently made changes to their positions in the company. Acumen Wealth Advisors LLC bought a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $26,000. Abound Wealth Management raised its position in Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after purchasing an additional 104 shares in the last quarter. Lodestone Wealth Management LLC bought a new stake in Agnico Eagle Mines during the fourth quarter worth $35,000. Jessup Wealth Management Inc bought a new stake in Agnico Eagle Mines during the fourth quarter worth $35,000. Finally, Bangor Savings Bank acquired a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at $37,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of research analyst reports. Royal Bank Of Canada lowered their price target on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating for the company in a report on Thursday, July 9th. Scotiabank reduced 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. Canadian Imperial Bank of Commerce set a $285.00 target price on Agnico Eagle Mines in a research report on Thursday. Barclays lowered their target price on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and increased their target price for the stock from $187.00 to $200.00 in a report on Monday, July 6th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $233.62.

Agnico Eagle Mines Stock Down 0.3%

Shares of NYSE:AEM opened at $136.89 on Friday. The company has a fifty day moving average of $165.41 and a 200-day moving average of $191.42. The company has a market capitalization of $69.48 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.81 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. 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 quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 21.09% and a net margin of 39.46%.Agnico Eagle Mines’s revenue for the quarter was up 66.1% on a year-over-year basis. During the same quarter last year, the business posted $1.53 EPS. On average, equities analysts predict that Agnico Eagle Mines Limited will post 12.39 EPS for the current fiscal 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.