Arrowstreet Capital Limited Partnership Has $1.37 Billion Position in Agnico Eagle Mines Limited $AEM

Arrowstreet Capital Limited Partnership cut its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 21.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,745,089 shares of the mining company’s stock after selling 1,884,846 shares during the period. Agnico Eagle Mines makes up about 0.7% of Arrowstreet Capital Limited Partnership’s portfolio, making the stock its 21st biggest holding. Arrowstreet Capital Limited Partnership owned approximately 1.35% of Agnico Eagle Mines worth $1,369,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of AEM. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Agnico Eagle Mines by 42.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,404 shares of the mining company’s stock worth $11,088,000 after buying an additional 19,647 shares during the last quarter. Gunderson Capital Management Inc. raised its stake in Agnico Eagle Mines by 187.6% during the 4th quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company’s stock worth $8,155,000 after acquiring an additional 31,378 shares in the last quarter. TB Alternative Assets Ltd. lifted its position in Agnico Eagle Mines by 34.2% in the fourth quarter. TB Alternative Assets Ltd. now owns 229,630 shares of the mining company’s stock valued at $38,929,000 after acquiring an additional 58,490 shares during the last quarter. J. Safra Sarasin Holding AG boosted its stake in Agnico Eagle Mines by 36.1% in the fourth quarter. J. Safra Sarasin Holding AG now owns 46,141 shares of the mining company’s stock valued at $7,822,000 after acquiring an additional 12,244 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at $2,198,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines News Roundup

Here are the key news stories impacting Agnico Eagle Mines this week:

• Negative Sentiment: Zacks labeled AEM a “Bear of the Day,” saying earnings estimates have been cut as gold retreats, which weighs on near-term sentiment for the miner. Bear of the Day: Agnico Eagle Mines (AEM)
• Negative Sentiment: Another Zacks note said Agnico Eagle does not have the right setup for a likely earnings beat ahead of next week’s report, reinforcing caution around the upcoming results. Agnico Eagle Mines (AEM) Reports Next Week: Wall Street Expects Earnings Growth
• Negative Sentiment: JPMorgan reportedly lowered expectations for Agnico Eagle Mines, adding to the day’s bearish analyst tone. JPMorgan Chase & Co. Has Lowered Expectations for Agnico Eagle Mines (NYSE:AEM) Stock Price
• Negative Sentiment: A separate market wrap noted AEM fell more than the broader market, signaling selling pressure alongside the weaker sector backdrop. Agnico Eagle Mines (AEM) Dips More Than Broader Market: What You Should Know

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $144.43 on Friday. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $161.15 and a 200-day simple moving average of $190.77. The company has a market cap of $73.31 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60. Agnico Eagle Mines Limited has a 12-month low of $122.32 and a 12-month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results 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. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The company’s revenue for the quarter was up 66.1% compared to the same quarter last year. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 12.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Royal Bank Of Canada dropped their price objective on Agnico Eagle Mines from $230.00 to $210.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Bank of America cut their price target on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Citigroup reiterated a “positive” rating on shares of Agnico Eagle Mines in a research note on Wednesday, July 15th. Jefferies Financial Group raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and lifted their target price for the company from $187.00 to $200.00 in a report on Monday, July 6th. Finally, ATB Cormark Capital Markets upgraded shares of Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus price target of $230.00.

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.