Chase Investment Counsel Corp Trims Stock Holdings in Agnico Eagle Mines Limited $AEM

Chase Investment Counsel Corp decreased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 14.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,582 shares of the mining company’s stock after selling 7,007 shares during the quarter. Agnico Eagle Mines makes up 2.2% of Chase Investment Counsel Corp’s portfolio, making the stock its 15th biggest position. Chase Investment Counsel Corp’s holdings in Agnico Eagle Mines were worth $8,237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AEM. Acumen Wealth Advisors LLC purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter worth about $26,000. Abound Wealth Management lifted its position in 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 period. Lodestone Wealth Management LLC purchased a new position in Agnico Eagle Mines during the 4th quarter valued at about $35,000. Jessup Wealth Management Inc bought a new stake in Agnico Eagle Mines during the fourth quarter worth about $35,000. Finally, Bangor Savings Bank bought a new stake in Agnico Eagle Mines during the fourth quarter worth about $37,000. Institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Canadian Imperial Bank of Commerce set a $285.00 price objective on shares of Agnico Eagle Mines in a report on Thursday, July 16th. Scotiabank lowered their target price on shares of Agnico Eagle Mines from $278.00 to $260.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. JPMorgan Chase & Co. dropped their price target on Agnico Eagle Mines from $222.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Finally, Barclays reduced their price objective on 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. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and a consensus price target of $230.00.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $141.55 on Wednesday. The stock has a market cap 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 firm’s 50-day moving average is $163.09 and its 200 day moving average is $191.11. Agnico Eagle Mines Limited has a 1 year low of $122.32 and a 1 year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. Agnico Eagle Mines’s revenue was up 66.1% compared to the same quarter last year. During the same period last year, the business earned $1.53 EPS. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 12.09 EPS for the current fiscal year.

Trending Headlines about Agnico Eagle Mines

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

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.