Saturna Capital Corp Cuts Stock Position in Agnico Eagle Mines Limited $AEM

Saturna Capital Corp lessened its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 20.8% in the first quarter, Holdings Channel reports. The firm owned 20,388 shares of the mining company’s stock after selling 5,343 shares during the period. Saturna Capital Corp’s holdings in Agnico Eagle Mines were worth $4,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in AEM. Norges Bank bought a new stake in shares of Agnico Eagle Mines during the 4th quarter worth $1,367,783,000. Van ECK Associates Corp grew its position in Agnico Eagle Mines by 21.6% during the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock valued at $2,920,258,000 after buying an additional 3,062,705 shares during the period. Alberta Investment Management Corp purchased a new stake in Agnico Eagle Mines during the fourth quarter worth about $194,195,000. Employees Provident Fund Board purchased a new stake in Agnico Eagle Mines during the fourth quarter worth about $183,341,000. Finally, Auto Owners Insurance Co increased its holdings in Agnico Eagle Mines by 16,853.0% during the fourth quarter. Auto Owners Insurance Co now owns 915,462 shares of the mining company’s stock worth $15,520,000 after buying an additional 910,062 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines News Roundup

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 Stock Performance

NYSE AEM opened at $141.55 on Wednesday. The company’s 50 day moving average is $163.09 and its 200-day moving average is $191.11. Agnico Eagle Mines Limited has a 12-month low of $122.32 and a 12-month high of $255.24. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. The firm has a market cap of $71.85 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.84 and a beta of 0.60.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.19 by $0.21. The company had revenue of $4 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 66.1% on a year-over-year basis. During the same period last year, the firm earned $1.53 EPS. Sell-side analysts predict that Agnico Eagle Mines Limited will post 12.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AEM. JPMorgan Chase & Co. dropped their target price on shares of Agnico Eagle Mines from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday. Citigroup restated a “positive” rating on shares of Agnico Eagle Mines in a research note on Wednesday, July 15th. UBS Group lowered their price target on shares of Agnico Eagle Mines from $210.00 to $170.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Finally, Scotia reduced their price objective on Agnico Eagle Mines from $280.00 to $278.00 and set a “sector outperform” rating for the company in a report on Friday, July 3rd. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $230.00.

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.