Federated Hermes Inc. Reduces Position in Agnico Eagle Mines Limited (NYSE:AEM)

Federated Hermes Inc. decreased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 12.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 717,300 shares of the mining company’s stock after selling 102,765 shares during the period. Federated Hermes Inc. owned approximately 0.14% of Agnico Eagle Mines worth $46,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Continuum Advisory LLC increased its stake in shares of Agnico Eagle Mines by 1,134.4% in the second quarter. Continuum Advisory LLC now owns 395 shares of the mining company’s stock worth $26,000 after acquiring an additional 363 shares during the period. Stephens Consulting LLC acquired a new stake in Agnico Eagle Mines during the 1st quarter worth about $30,000. Janiczek Wealth Management LLC raised its stake in shares of Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock valued at $42,000 after buying an additional 569 shares during the last quarter. Scarborough Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at about $47,000. Finally, WASHINGTON TRUST Co boosted its stake in shares of Agnico Eagle Mines by 92.1% in the second quarter. WASHINGTON TRUST Co now owns 730 shares of the mining company’s stock worth $48,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Agnico Eagle Mines from $59.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $80.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. BMO Capital Markets dropped their price target on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. CIBC upped their price objective on shares of Agnico Eagle Mines from $81.00 to $101.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Scotiabank raised their target price on Agnico Eagle Mines from $81.00 to $94.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.38.

Agnico Eagle Mines Trading Up 1.6 %

Shares of Agnico Eagle Mines stock opened at $83.17 on Friday. Agnico Eagle Mines Limited has a twelve month low of $43.22 and a twelve month high of $83.95. The firm’s 50-day moving average price is $77.21 and its 200 day moving average price is $67.82. The company has a current ratio of 1.51, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $41.65 billion, a PE ratio of 87.55, a P/E/G ratio of 0.77 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Wednesday, July 31st. The mining company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.14. Agnico Eagle Mines had a return on equity of 7.16% and a net margin of 8.44%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the business posted $0.65 earnings per share. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 3.65 EPS for the current fiscal year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.