Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Avalon Capital Management

Avalon Capital Management lowered its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 29.4% in the first quarter, Holdings Channel reports. The firm owned 6,371 shares of the mining company’s stock after selling 2,649 shares during the quarter. Avalon Capital Management’s holdings in Agnico Eagle Mines were worth $380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new position in Agnico Eagle Mines during the 4th quarter worth $33,000. CVA Family Office LLC purchased a new position in Agnico Eagle Mines during the 4th quarter worth $36,000. Janiczek Wealth Management LLC raised its position in Agnico Eagle Mines by 406.4% during the 1st quarter. Janiczek Wealth Management LLC now owns 709 shares of the mining company’s stock worth $42,000 after buying an additional 569 shares during the last quarter. Scarborough Advisors LLC purchased a new position in Agnico Eagle Mines during the 4th quarter worth $47,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new position in Agnico Eagle Mines during the 4th quarter worth $49,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock traded down $0.98 during midday trading on Friday, hitting $65.40. The company’s stock had a trading volume of 1,645,484 shares, compared to its average volume of 2,293,912. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average price is $66.31 and its 200-day moving average price is $58.01. Agnico Eagle Mines Limited has a 12 month low of $43.22 and a 12 month high of $71.50. The company has a market capitalization of $32.72 billion, a PE ratio of 68.84, a price-to-earnings-growth ratio of 0.72 and a beta of 1.11.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.16. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. Analysts anticipate that Agnico Eagle Mines Limited will post 3.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AEM shares. Scotiabank increased their price target on shares of Agnico Eagle Mines from $71.00 to $81.00 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd. BMO Capital Markets lowered their price objective on shares of Agnico Eagle Mines from $79.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. CIBC increased their price objective on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Finally, TD Securities raised their price target on shares of Agnico Eagle Mines from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average target price of $72.22.

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.