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

Metis Global Partners LLC lessened its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 13.4% in the 4th quarter, Holdings Channel reports. The fund owned 60,407 shares of the mining company’s stock after selling 9,359 shares during the quarter. Metis Global Partners LLC’s holdings in Agnico Eagle Mines were worth $10,244,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lodestone Wealth Management LLC purchased a new stake in Agnico Eagle Mines during the 4th quarter valued at about $35,000. Abound Wealth Management grew its stake in Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after acquiring an additional 104 shares in the last quarter. Caitlin John LLC purchased a new stake in Agnico Eagle Mines during the 3rd quarter valued at about $36,000. Bangor Savings Bank purchased a new stake in Agnico Eagle Mines during the 4th quarter valued at about $37,000. Finally, Addison Advisors LLC grew its stake in Agnico Eagle Mines by 94.1% during the 3rd quarter. Addison Advisors LLC now owns 229 shares of the mining company’s stock valued at $39,000 after acquiring an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $152.12 on Thursday. Agnico Eagle Mines Limited has a 1-year low of $114.60 and a 1-year high of $255.24. The company’s 50-day moving average is $191.92 and its two-hundred day moving average is $194.60. The firm has a market capitalization of $76.13 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 3.52 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business 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 company posted $1.53 EPS. The company’s quarterly revenue was up 66.1% on a year-over-year basis. Analysts forecast that Agnico Eagle Mines Limited will post 13.18 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group dropped 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. Barclays began coverage on shares of Agnico Eagle Mines in a research note on Thursday, May 21st. They set an “overweight” rating and a $213.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Scotiabank reaffirmed an “outperform” rating and set a $280.00 target price on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Finally, 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. 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, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus price target of $236.08.

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.