Caldwell Investment Management Ltd. Sells 11,500 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Caldwell Investment Management reduced its Agnico Eagle Mines stake by 19.6% in the fourth quarter, selling 11,500 shares and leaving it with 47,200 shares valued at about $8.1 million.
• The stock was down 1.5% in Wednesday trading, opening at $159.65, well below its 50-day and 200-day moving averages.
• Agnico Eagle Mines recently reported strong quarterly results, with earnings of $3.40 per share topping estimates and revenue up 66.1% year over year; analysts currently rate the stock a Moderate Buy with a $236.08 consensus price target.

Caldwell Investment Management Ltd. cut its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 19.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,200 shares of the mining company's stock after selling 11,500 shares during the quarter. Agnico Eagle Mines accounts for 5.0% of Caldwell Investment Management Ltd.'s portfolio, making the stock its 5th biggest holding. Caldwell Investment Management Ltd.'s holdings in Agnico Eagle Mines were worth $8,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Red Cedar Investment Management LLC grew its position in Agnico Eagle Mines by 17.3% during the fourth quarter. Red Cedar Investment Management LLC now owns 38,341 shares of the mining company's stock worth $6,500,000 after buying an additional 5,668 shares in the last quarter. Focus Partners Advisor Solutions LLC grew its position in Agnico Eagle Mines by 30.7% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 2,702 shares of the mining company's stock worth $458,000 after buying an additional 634 shares in the last quarter. Marks Group Wealth Management Inc grew its position in Agnico Eagle Mines by 125.3% during the fourth quarter. Marks Group Wealth Management Inc now owns 8,470 shares of the mining company's stock worth $1,436,000 after buying an additional 4,711 shares in the last quarter. Cerity Partners LLC grew its position in Agnico Eagle Mines by 9.4% during the fourth quarter. Cerity Partners LLC now owns 46,653 shares of the mining company's stock worth $7,909,000 after buying an additional 3,992 shares in the last quarter. Finally, LPL Financial LLC grew its position in Agnico Eagle Mines by 12.1% during the fourth quarter. LPL Financial LLC now owns 400,520 shares of the mining company's stock worth $67,900,000 after buying an additional 43,315 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Down 1.5%

NYSE AEM opened at $159.65 on Wednesday. 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's 50 day moving average is $192.71 and its two-hundred day moving average is $194.65. The company has a market capitalization of $79.90 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 3.57 and a beta of 0.56. Agnico Eagle Mines Limited has a 1-year low of $114.60 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data 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. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company's quarterly revenue was up 66.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.53 earnings per share. Equities analysts forecast that Agnico Eagle Mines Limited will post 13.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on AEM. Zacks Research downgraded Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research report on Monday, May 4th. Barclays assumed coverage on Agnico Eagle Mines in a report on Thursday, May 21st. They set an "overweight" rating and a $213.00 price objective on the stock. Wall Street Zen downgraded Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a "neutral" rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.08.

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.

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