Prospector Partners LLC Sells 17,983 Shares of Agnico Eagle Mines Limited $AEM

Prospector Partners LLC decreased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 46.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,100 shares of the mining company’s stock after selling 17,983 shares during the period. Agnico Eagle Mines makes up approximately 7.7% of Prospector Partners LLC’s holdings, making the stock its 8th biggest position. Prospector Partners LLC’s holdings in Agnico Eagle Mines were worth $3,577,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Acumen Wealth Advisors LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $26,000. Lodestone Wealth Management LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $35,000. Jessup Wealth Management Inc acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $35,000. Abound Wealth Management lifted its holdings in Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after buying an additional 104 shares during the period. Finally, Caitlin John LLC acquired a new position in Agnico Eagle Mines in the third quarter valued at $36,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

AEM has been the topic of several recent analyst reports. Erste Group Bank lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. UBS Group dropped their target price on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. Finally, Wall Street Zen lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.08.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $162.70 on Monday. The firm’s 50-day moving average price is $190.08 and its 200-day moving average price is $194.56. Agnico Eagle Mines Limited has a 1-year low of $114.60 and a 1-year high of $255.24. The firm has a market capitalization of $81.43 billion, a P/E ratio of 15.29, a P/E/G ratio of 3.57 and a beta of 0.56. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate 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 for 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. The business’s quarterly revenue was up 66.1% compared to the same quarter last year. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current fiscal year.

Agnico Eagle Mines Company 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.