Washington Capital Management Inc Lowers stake in Agnico Eagle Mines Ltd (USA) (AEM)

Agnico Eagle Mines Ltd (USA) (AEM) : Washington Capital Management Inc reduced its stake in Agnico Eagle Mines Ltd (USA) by 12.98% during the most recent quarter end. The investment management company now holds a total of 73,080 shares of Agnico Eagle Mines Ltd (USA) which is valued at $3,376,296 after selling 10,900 shares in Agnico Eagle Mines Ltd (USA) , the firm said in a disclosure report filed with the SEC on May 9, 2016.Agnico Eagle Mines Ltd (USA) makes up approximately 2.45% of Washington Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Engineers Gate Manager Lp added AEM to its portfolio by purchasing 13,824 company shares during the most recent quarter which is valued at $638,669. Agnico Eagle Mines Ltd (USA) makes up approx 0.05% of Engineers Gate Manager Lp’s portfolio. Neuberger Berman Group added AEM to its portfolio by purchasing 656,922 company shares during the most recent quarter which is valued at $30,244,689. Agnico Eagle Mines Ltd (USA) makes up approx 0.04% of Neuberger Berman Group’s portfolio.Great West Life Assurance Co Can boosted its stake in AEM in the latest quarter, The investment management firm added 836,341 additional shares and now holds a total of 2,255,782 shares of Agnico Eagle Mines Ltd (USA) which is valued at $106,495,468. Agnico Eagle Mines Ltd (USA) makes up approx 0.38% of Great West Life Assurance Co Can’s portfolio. Asset Dedication sold out all of its stake in AEM during the most recent quarter. The investment firm sold 65 shares of AEM which is valued $3,069. Baring Asset Management Ltd added AEM to its portfolio by purchasing 6,060 company shares during the most recent quarter which is valued at $286,093. Agnico Eagle Mines Ltd (USA) makes up approx 0.02% of Baring Asset Management Ltd’s portfolio.

Agnico Eagle Mines Ltd (USA) opened for trading at $45.69 and hit $46.97 on the upside on Friday, eventually ending the session at $46.2, with a gain of 0.98% or 0.45 points. The heightened volatility saw the trading volume jump to 25,88,515 shares. Company has a market cap of $10,186 M.

On the company’s financial health, Agnico Eagle Mines Ltd (USA) reported $0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.02. The company had revenue of $490.53 million for the quarter, compared to analysts expectations of $481.97 million. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on Agnico Eagle Mines Ltd (USA). Company shares were Reiterated by RBC Capital Mkts on May 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 46 from a previous price target of $42 .Agnico Eagle Mines Ltd (USA) was Downgraded by JP Morgan to ” Neutral” on Apr 18, 2016. Company shares were Downgraded by UBS on Mar 28, 2016 to ” Neutral”, Firm has raised the Price Target to $ 36 from a previous price target of $35 .

Agnico Eagle Mines Ltd is a Canada-based gold producer. The Company has mining operations in northwestern Quebec northern Mexico northern Finland and Nunavut and exploration activities in Canada Europe Latin America and the United States. It operates through three business units: Northern Business Southern Business and Exploration. Its Northern Business consists of the operations in Canada and Finland which include the LaRonde mine the Lapa mine the Goldex mine the Meadowbank mine and the Meliadine project. Its Southern Business consists of the Company’s operations in Mexico. The Company’s mining at Pinos Altos is conducted through its subsidiary Agnico Eagle Mexico S.A. de C.V. which owns the Pinos Altos mine including the Creston Mascota deposit. Its Exploration group focuses on the identification of new mineral reserves and resources and new developments in stable and proven gold producing regions.

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