Assetmark Inc. Increases Stock Position in Agnico Eagle Mines Limited $AEM

Assetmark Inc. increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 13.5% during the first quarter, HoldingsChannel reports. The fund owned 35,134 shares of the mining company’s stock after buying an additional 4,166 shares during the period. Assetmark Inc.’s holdings in Agnico Eagle Mines were worth $7,132,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth $26,000. Abound Wealth Management grew its stake in Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after acquiring an additional 104 shares during the period. Lodestone Wealth Management LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $35,000. Jessup Wealth Management Inc purchased a new position in shares of Agnico Eagle Mines during the 4th quarter worth about $35,000. Finally, Bangor Savings Bank purchased a new position in Agnico Eagle Mines during the fourth quarter worth approximately $37,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AEM shares. ATB Cormark Capital Markets raised shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Royal Bank Of Canada cut their target price on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 9th. JPMorgan Chase & Co. reduced their price target on shares of Agnico Eagle Mines from $222.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday. Barclays lowered their target price on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group raised 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 research report on Monday, July 6th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $230.00.

Agnico Eagle Mines Stock Performance

Shares of NYSE AEM opened at $141.55 on Wednesday. The stock’s fifty day simple moving average is $163.09 and its 200 day simple moving average is $191.11. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $71.85 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.84 and a beta of 0.60. Agnico Eagle Mines Limited has a 52-week low of $122.32 and a 52-week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the company posted $1.53 earnings per share. The business’s revenue for the quarter was up 66.1% on a year-over-year basis. As a group, sell-side analysts forecast that Agnico Eagle Mines Limited will post 12.09 earnings per share for the current fiscal year.

Key Stories Impacting Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

• Negative Sentiment: JPMorgan lowered its price target on Agnico Eagle Mines from $222 to $175 and kept a neutral rating, signaling less upside than before and pressuring investor expectations. Benzinga report on JPMorgan price target cut
• Negative Sentiment: Zacks added AEM to its Rank #5 “Strong Sell” list, which can weigh on the stock because it reflects weakening near-term earnings sentiment. Yahoo Finance/Zacks Strong Sell article
• Negative Sentiment: Another Zacks article repeated the Strong Sell designation, reinforcing the cautious analyst tone around AEM. Zacks Strong Sell article
• Neutral Sentiment: Separately, a Seeking Alpha piece argued Agnico Eagle remains undervalued and could benefit from its Finland expansion, highlighting long-term growth potential rather than a near-term catalyst. Seeking Alpha Agnico Eagle Finland expansion article
• Neutral Sentiment: Broader commentary on gold miners suggested the group may be undervalued relative to gold prices, but this was industry-wide and not specific to AEM’s immediate fundamentals. MarketBeat gold miners article

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.