Investec Asset Management (pty) Ltd adds Agnico Eagle Mines Ltd (USA) (AEM) to its portfolio

Agnico Eagle Mines Ltd (USA) (AEM) : Investec Asset Management (pty) Ltd added new position in Agnico Eagle Mines Ltd (USA) during the most recent quarter end. The investment management firm now holds 12,247 shares of Agnico Eagle Mines Ltd (USA) which is valued at $715,960 , the company said in a statement filed on Aug 12, 2016 with the SEC.Agnico Eagle Mines Ltd (USA) makes up approximately 0.60% of Investec Asset Management (pty) Ltd’s portfolio.

Other Hedge Funds, Including , Stevens Capital Management Lp reduced its stake in AEM by selling 82,695 shares or 56.88% in the most recent quarter. The Hedge Fund company now holds 62,688 shares of AEM which is valued at $3,664,740. Agnico Eagle Mines Ltd (USA) makes up approx 0.14% of Stevens Capital Management Lp’s portfolio.Picton Mahoney Asset Management boosted its stake in AEM in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 52,700 shares of Agnico Eagle Mines Ltd (USA) which is valued at $3,080,842. Agnico Eagle Mines Ltd (USA) makes up approx 0.21% of Picton Mahoney Asset Management’s portfolio.Scout Investments reduced its stake in AEM by selling 203,906 shares or 27.61% in the most recent quarter. The Hedge Fund company now holds 534,551 shares of AEM which is valued at $31,319,343. Agnico Eagle Mines Ltd (USA) makes up approx 0.83% of Scout Investments’s portfolio.Sg Americas Securities reduced its stake in AEM by selling 7,152 shares or 35.75% in the most recent quarter. The Hedge Fund company now holds 12,855 shares of AEM which is valued at $762,559. Agnico Eagle Mines Ltd (USA) makes up approx 0.01% of Sg Americas Securities’s portfolio.Cibc World Markets reduced its stake in AEM by selling 36,250 shares or 1.12% in the most recent quarter. The Hedge Fund company now holds 3,189,310 shares of AEM which is valued at $171,361,626. Agnico Eagle Mines Ltd (USA) makes up approx 0.74% of Cibc World Markets’s portfolio.

Agnico Eagle Mines Ltd (USA) opened for trading at $51.79 and hit $53.64 on the upside on Monday, eventually ending the session at $53.3, with a gain of 1.68% or 0.88 points. The heightened volatility saw the trading volume jump to 12,40,975 shares. Company has a market cap of $11,911 M.

On the company’s financial health, Agnico Eagle Mines Ltd (USA) reported $0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.10. The company had revenue of $537.60 million for the quarter, compared to analysts expectations of $516.48 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.

Investors should note that on Jul 27, 2016, Agnico Eagle Mines Ltd (USA) announced a cash dividend of $0.1000. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Sep 15, 2016.

Many Wall Street Analysts have commented on Agnico Eagle Mines Ltd (USA). Company shares were Downgraded by RBC Capital Mkts on Aug 8, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 67 from a previous price target of $65 .Citigroup Initiated Agnico Eagle Mines Ltd (USA) on Aug 2, 2016 to “Sell”, Price Target of the shares are set at $44.Agnico Eagle Mines Ltd (USA) was Downgraded by Dundee to ” Neutral” on Jul 14, 2016.

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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