Chase Investment Counsel Corp Sells 7,007 Shares of Agnico Eagle Mines Limited $AEM

Chase Investment Counsel Corp lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 14.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,582 shares of the mining company’s stock after selling 7,007 shares during the quarter. Agnico Eagle Mines accounts for about 2.2% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 15th biggest holding. Chase Investment Counsel Corp’s holdings in Agnico Eagle Mines were worth $8,237,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AEM. Acumen Wealth Advisors LLC purchased a new position in Agnico Eagle Mines in the 4th quarter worth about $26,000. Lodestone Wealth Management LLC bought a new position in Agnico Eagle Mines during the 4th quarter valued at about $35,000. Jessup Wealth Management Inc bought a new position in Agnico Eagle Mines during the 4th quarter valued at about $35,000. Abound Wealth Management boosted its holdings in shares of Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after acquiring an additional 104 shares during the last quarter. Finally, Bangor Savings Bank purchased a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AEM. Erste Group Bank lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. TD increased their price objective on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Jefferies Financial Group upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and raised their target price for the stock from $187.00 to $200.00 in a report on Monday, July 6th. Barclays cut 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 report on Wednesday, July 15th. Finally, Bank of America decreased their target price on shares of Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Twelve equities research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.00.

Agnico Eagle Mines Trading Up 3.8%

Shares of NYSE:AEM opened at $141.55 on Wednesday. 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. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.18 and a current ratio of 3.15. The stock’s 50-day simple moving average is $163.09 and its two-hundred day simple moving average is $191.11. 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 released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating 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 firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. The business’s revenue for the quarter was up 66.1% compared to the same quarter last year. Analysts expect that Agnico Eagle Mines Limited will post 12.09 EPS for the current year.

Agnico Eagle Mines News Summary

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.