Evelyn Partners Investment Management LLP Trims Stake in Agnico Eagle Mines Limited $AEM

Evelyn Partners Investment Management LLP cut its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,375 shares of the mining company’s stock after selling 24,708 shares during the period. Evelyn Partners Investment Management LLP’s holdings in Agnico Eagle Mines were worth $22,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors increased its stake in shares of Agnico Eagle Mines by 2.8% in the fourth quarter. Capital World Investors now owns 21,338,277 shares of the mining company’s stock worth $3,618,730,000 after purchasing an additional 572,473 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Agnico Eagle Mines by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company’s stock worth $3,557,772,000 after purchasing an additional 309,717 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Agnico Eagle Mines by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 17,225,477 shares of the mining company’s stock worth $2,920,258,000 after purchasing an additional 3,062,705 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Agnico Eagle Mines by 1.7% in the fourth quarter. TD Asset Management Inc now owns 9,665,456 shares of the mining company’s stock worth $1,641,239,000 after purchasing an additional 165,263 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Agnico Eagle Mines by 0.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,629,935 shares of the mining company’s stock worth $1,463,166,000 after purchasing an additional 40,190 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $162.70 on Friday. 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 firm has a fifty day moving average price of $190.08 and a 200 day moving average price of $194.36. Agnico Eagle Mines Limited has a fifty-two week low of $114.60 and a fifty-two week high of $255.24. The firm has a market cap of $81.43 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 3.57 and a beta of 0.56.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 business earned $1.53 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 66.1% on a year-over-year basis. As a group, sell-side analysts expect that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AEM shares. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. UBS Group reduced their price objective on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Scotiabank reissued an “outperform” rating and issued a $280.00 price objective on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.08.

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.