Trek Financial LLC Sells 58,679 Shares of Agnico Eagle Mines Limited $AEM

Trek Financial LLC decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 74.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,793 shares of the mining company’s stock after selling 58,679 shares during the quarter. Trek Financial LLC’s holdings in Agnico Eagle Mines were worth $3,336,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. True Wealth Design LLC raised its holdings in Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. Blue Bell Private Wealth Management LLC grew its position in shares of Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Agnico Eagle Mines during the 2nd quarter valued at approximately $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in Agnico Eagle Mines in the 2nd quarter worth approximately $29,000. Finally, City State Bank lifted its holdings in Agnico Eagle Mines by 69.2% in the 2nd quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AEM shares. UBS Group increased their price objective on shares of Agnico Eagle Mines from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, December 1st. Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a research note on Sunday, December 7th. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 4th. TD Securities increased their price objective on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a report on Thursday, October 23rd. Five investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $211.70.

Agnico Eagle Mines Price Performance

AEM stock opened at $214.52 on Friday. Agnico Eagle Mines Limited has a 52 week low of $87.45 and a 52 week high of $215.95. The firm has a market capitalization of $107.40 billion, a P/E ratio of 31.32, a price-to-earnings-growth ratio of 0.62 and a beta of 0.63. The company has a fifty day simple moving average of $178.06 and a two-hundred day simple moving average of $159.01. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01.

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 for the quarter, topping analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the firm posted $1.14 EPS. Analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

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.