Hsbc Holdings PLC Trims Stake in Agnico Eagle Mines Limited $AEM

Hsbc Holdings PLC lessened its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 98.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,779 shares of the mining company’s stock after selling 790,794 shares during the period. Hsbc Holdings PLC’s holdings in Agnico Eagle Mines were worth $2,522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AEM. Acumen Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $26,000. Abound Wealth Management increased its holdings in Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after purchasing an additional 104 shares during the last quarter. Lodestone Wealth Management LLC acquired a new stake in Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. Jessup Wealth Management Inc purchased a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $35,000. Finally, Caitlin John LLC purchased a new stake in Agnico Eagle Mines in the third quarter valued at approximately $36,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $157.24 on Monday. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 52 week low of $114.60 and a 52 week high of $255.24. The firm’s 50 day moving average is $180.30 and its two-hundred day moving average is $194.18. The firm has a market capitalization of $79.81 billion, a P/E ratio of 14.78, a P/E/G ratio of 3.45 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share 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 business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the firm earned $1.53 EPS. The company’s revenue was up 66.1% compared to the same quarter last year. Research analysts forecast that Agnico Eagle Mines Limited will post 13.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on AEM shares. Canadian Imperial Bank of Commerce upped their price target on Agnico Eagle Mines from C$304.00 to C$310.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. Weiss Ratings cut Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Zacks Research downgraded Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Barclays began coverage on Agnico Eagle Mines in a research note on Thursday, May 21st. They set an “overweight” rating and a $213.00 target price on the stock. Finally, ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $236.08.

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.