Prospector Partners LLC Decreases Stock Position in Agnico Eagle Mines Limited $AEM

Prospector Partners LLC cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 46.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,100 shares of the mining company’s stock after selling 17,983 shares during the period. Agnico Eagle Mines comprises approximately 7.7% of Prospector Partners LLC’s holdings, making the stock its 8th largest holding. Prospector Partners LLC’s holdings in Agnico Eagle Mines were worth $3,577,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $1,367,783,000. Capital World Investors raised its stake in Agnico Eagle Mines by 20.0% during the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after buying an additional 3,462,968 shares during the period. Van ECK Associates Corp increased its holdings in Agnico Eagle Mines by 21.6% during the 4th 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. Clearbridge Investments LLC increased its holdings in Agnico Eagle Mines by 60.5% during the 4th quarter. Clearbridge Investments LLC now owns 2,149,463 shares of the mining company’s stock worth $364,398,000 after purchasing an additional 810,543 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Agnico Eagle Mines by 566.2% during the 3rd quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company’s stock worth $149,593,000 after purchasing an additional 754,919 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

AEM has been the subject of several analyst reports. Barclays assumed coverage on Agnico Eagle Mines in a report on Thursday, May 21st. They issued an “overweight” rating and a $213.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Scotiabank restated an “outperform” rating and set a $280.00 price objective on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Erste Group Bank downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, UBS Group dropped their price target on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus price target of $236.08.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $162.70 on Monday. The company has a market capitalization of $81.43 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 3.57 and a beta of 0.56. Agnico Eagle Mines Limited has a twelve month low of $114.60 and a twelve month high of $255.24. The stock has a fifty day simple moving average of $190.08 and a 200 day simple moving average of $194.56. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted 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 the consensus estimate of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.Agnico Eagle Mines’s quarterly revenue was up 66.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.53 earnings per share. Sell-side analysts expect that Agnico Eagle Mines Limited will post 13.2 EPS for the current year.

Agnico Eagle Mines 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.