Agnico Eagle Mines Ltd (AEM) Position Raised by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. increased its holdings in shares of Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) by 28.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 225,000 shares of the mining company’s stock after acquiring an additional 50,000 shares during the quarter. Agnico Eagle Mines makes up approximately 2.2% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 3rd biggest holding. Hussman Strategic Advisors Inc. owned 0.10% of Agnico Eagle Mines worth $7,695,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AEM. Toronto Dominion Bank increased its stake in shares of Agnico Eagle Mines by 144.3% in the second quarter. Toronto Dominion Bank now owns 1,641,990 shares of the mining company’s stock valued at $75,883,000 after purchasing an additional 969,997 shares during the period. Addenda Capital Inc. increased its stake in shares of Agnico Eagle Mines by 88.5% in the second quarter. Addenda Capital Inc. now owns 908,104 shares of the mining company’s stock valued at $39,786,000 after purchasing an additional 426,247 shares during the period. Unigestion Holding SA acquired a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $15,802,000. CIBC Asset Management Inc increased its stake in shares of Agnico Eagle Mines by 19.2% in the second quarter. CIBC Asset Management Inc now owns 1,843,348 shares of the mining company’s stock valued at $84,524,000 after purchasing an additional 296,758 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Agnico Eagle Mines by 13.6% in the second quarter. Renaissance Technologies LLC now owns 1,755,600 shares of the mining company’s stock valued at $80,459,000 after purchasing an additional 209,800 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Shares of Agnico Eagle Mines stock traded down $0.61 on Wednesday, hitting $35.00. The company had a trading volume of 13,293 shares, compared to its average volume of 2,105,652. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.94 and a quick ratio of 1.88. The stock has a market capitalization of $8.24 billion, a PE ratio of 31.48 and a beta of -0.53. Agnico Eagle Mines Ltd has a 52 week low of $32.18 and a 52 week high of $49.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Wednesday, October 24th. The mining company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.06. The business had revenue of $518.68 million during the quarter, compared to analysts’ expectations of $497.68 million. Agnico Eagle Mines had a net margin of 4.60% and a return on equity of 1.75%. The business’s revenue was down 10.6% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. On average, analysts forecast that Agnico Eagle Mines Ltd will post 0.14 earnings per share for the current fiscal year.

Several brokerages have commented on AEM. Zacks Investment Research lowered shares of Agnico Eagle Mines from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 12th. ValuEngine upgraded shares of Agnico Eagle Mines from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Scotiabank set a $56.00 price target on shares of Agnico Eagle Mines and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of Agnico Eagle Mines from $65.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, September 17th. Finally, Citigroup decreased their price objective on shares of Agnico Eagle Mines from $45.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, August 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $54.25.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

Further Reading: Insider Trading

Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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