Bank of America 13F: Cuts Agnico Eagle Mines (AEM) Stake by $35M

Bank of America Cuts Stake in Agnico Eagle Mines

Bank of America has trimmed its stake in Agnico Eagle Mines Limited (NYSE: AEM), reducing its holdings by 228,129 shares. The latest Form 13F filing shows the fund now holds about 5.25 million shares valued at approximately $795.8 million as of May 18, 2026.

What Changed in Bank of America's Position

This reduction represents a 4.17% decrease in Bank of America's position in Agnico Eagle Mines. Previously, the fund held 5.47 million shares, but after this cut, it now holds 5.25 million shares.

Institutional Activity Around Agnico Eagle Mines

No other funds reported changes in their positions in Agnico Eagle Mines during this filing period. However, recent reports show that other significant holders have also adjusted their stakes. For example, Montrusco Bolton reduced its stake by nearly 43%, and Gabelli Funds cut its position by 17.7%. This trend among large investors indicates a cautious approach towards the gold mining sector.

Stock Performance and Market Context

Shares of Agnico Eagle Mines are currently trading at $151.69, well below its 52-week high of $255.24. The stock has faced downward pressure, reflecting broader challenges in the mining industry. Investors may find this price point significant, as it suggests a potential buying opportunity for those looking at long-term positions.

Analysts Set New Price Targets

As of October 8, 2026, UBS maintains a 'Neutral' rating on Agnico Eagle Mines with a price target of $190. RBC Capital also holds a 'Sector Perform' rating with a target of $225 as of September 16, 2026. These ratings reflect a mixed outlook among analysts, with a consensus recommendation of 'buy' and an average price target of $215.96.

What Agnico Eagle Mines Limited Does

Agnico Eagle Mines Limited is a gold mining company that focuses on exploring, developing, and producing precious metals. It operates mines across Canada, Australia, Finland, and Mexico, making it a key player in the global gold market. The recent activity by Bank of America and other funds may signal shifting sentiments in the gold sector.

What to Watch at Agnico Eagle Mines Limited

Investors should keep an eye on Agnico Eagle's next earnings report scheduled for October 28, 2026. The recent 13F filings provide a snapshot of holdings as of May 18, 2026, but positions may have changed since then. As always, it's important to stay updated on institutional activities and market conditions surrounding the gold mining industry.