Metis Global Partners LLC Lowers Stock Position in Agnico Eagle Mines Limited $AEM

Metis Global Partners LLC cut its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 13.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,407 shares of the mining company’s stock after selling 9,359 shares during the period. Metis Global Partners LLC’s holdings in Agnico Eagle Mines were worth $10,244,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new stake in Agnico Eagle Mines during the fourth quarter worth $35,000. Abound Wealth Management boosted its holdings in Agnico Eagle Mines by 99.0% during the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after buying an additional 104 shares in the last quarter. Caitlin John LLC purchased a new stake in Agnico Eagle Mines during the third quarter worth $36,000. Bangor Savings Bank purchased a new stake in Agnico Eagle Mines during the fourth quarter worth $37,000. Finally, Addison Advisors LLC boosted its holdings in Agnico Eagle Mines by 94.1% during the third quarter. Addison Advisors LLC now owns 229 shares of the mining company’s stock worth $39,000 after buying an additional 111 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $152.12 on Thursday. 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 company has a fifty day moving average of $191.92 and a two-hundred day moving average of $194.60. The stock has a market capitalization of $76.13 billion, a PE ratio of 14.30, a P/E/G ratio of 3.52 and a beta of 0.56. Agnico Eagle Mines Limited has a fifty-two week low of $114.60 and a fifty-two week high of $255.24.

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, topping analysts’ consensus estimates of $3.19 by $0.21. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The firm’s revenue for the quarter 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. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 13.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AEM has been the topic of a number of recent analyst reports. Erste Group Bank downgraded shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Scotiabank reissued an “outperform” rating and set a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. TD increased their price target on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, 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 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 issued a Hold rating to the company. According to MarketBeat, the stock currently has an average 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.