Truist Financial Corp Acquires 3,422 Shares of Agnico Eagle Mines Limited $AEM

Truist Financial Corp lifted its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,835 shares of the mining company’s stock after acquiring an additional 3,422 shares during the period. Truist Financial Corp’s holdings in Agnico Eagle Mines were worth $8,063,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in Agnico Eagle Mines during the 2nd quarter valued at about $25,000. True Wealth Design LLC boosted its position in shares of Agnico Eagle Mines by 381.3% in 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. Twin Peaks Wealth Advisors LLC bought a new position in shares of Agnico Eagle Mines in the second quarter valued at approximately $29,000. City State Bank grew its stake in Agnico Eagle Mines by 69.2% during the second quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after acquiring an additional 110 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its holdings in Agnico Eagle Mines by 59.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after acquiring an additional 74 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday. UBS Group restated a “neutral” rating and set a $240.00 target price on shares of Agnico Eagle Mines in a research report on Friday. Royal Bank Of Canada cut Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $185.00 to $205.00 in a report on Wednesday, December 10th. Scotiabank lifted their price target on Agnico Eagle Mines from $219.00 to $276.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Bank of America upped their price objective on shares of Agnico Eagle Mines from $209.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Agnico Eagle Mines has an average rating of “Buy” and a consensus price target of $224.73.

Agnico Eagle Mines Trading Up 0.1%

Shares of AEM stock opened at $190.65 on Tuesday. The business has a 50-day moving average price of $183.41 and a two-hundred day moving average price of $163.08. Agnico Eagle Mines Limited has a 12-month low of $92.11 and a 12-month high of $225.00. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01. The firm has a market cap of $95.45 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 0.52 and a beta of 0.63.

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.