Cutler Capital Management LLC Cuts Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Cutler Capital Management LLC reduced its stake in Agnico Eagle Mines Limited by 4.6%, now holding 134,972 shares valued at approximately $14.6 million.
• Agnico Eagle Mines reported a quarterly EPS of $1.94, exceeding analyst expectations of $1.83, with revenue of $2.86 billion, a 35.6% year-over-year increase.
• The company declared a dividend of $0.40 per share, representing a yield of 136.0% with a payout ratio of 27.21%.

Cutler Capital Management LLC decreased its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 134,972 shares of the mining company's stock after selling 6,464 shares during the quarter. Agnico Eagle Mines accounts for approximately 5.1% of Cutler Capital Management LLC's holdings, making the stock its largest position. Cutler Capital Management LLC's holdings in Agnico Eagle Mines were worth $14,632,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AEM. Brighton Jones LLC grew its stake in shares of Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after purchasing an additional 331 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Agnico Eagle Mines in the fourth quarter worth $422,000. First Trust Advisors LP grew its stake in shares of Agnico Eagle Mines by 5.2% in the fourth quarter. First Trust Advisors LP now owns 169,101 shares of the mining company's stock worth $13,226,000 after purchasing an additional 8,394 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Agnico Eagle Mines by 147.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,828 shares of the mining company's stock worth $143,000 after purchasing an additional 1,089 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Agnico Eagle Mines by 26.8% in the fourth quarter. Hsbc Holdings PLC now owns 627,559 shares of the mining company's stock worth $49,048,000 after purchasing an additional 132,625 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Analyst Upgrades and Downgrades

AEM has been the subject of several research reports. Raymond James Financial raised Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price for the company in a research note on Monday, June 30th. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. National Bankshares reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, June 24th. CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Finally, Bank of America raised their target price on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Five investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of "Buy" and a consensus target price of $136.90.

Agnico Eagle Mines Trading Up 2.2%

AEM traded up $2.97 during trading on Tuesday, reaching $139.59. The company had a trading volume of 1,906,842 shares, compared to its average volume of 2,936,586. The firm's 50-day simple moving average is $125.65 and its 200 day simple moving average is $115.08. The company has a market cap of $70.19 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 0.95 and a beta of 0.44. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-month high of $139.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.16 and a current ratio of 2.03.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter last year, the business posted $1.07 EPS. Agnico Eagle Mines's revenue was up 35.6% on a year-over-year basis. Equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.