Hussman Strategic Advisors Lowers stake in Agnico Eagle Mines Ltd (USA) (AEM)

Agnico Eagle Mines Ltd (USA) (AEM) : Hussman Strategic Advisors reduced its stake in Agnico Eagle Mines Ltd (USA) by 44.44% during the most recent quarter end. The investment management company now holds a total of 125,000 shares of Agnico Eagle Mines Ltd (USA) which is valued at $7,415,000 after selling 100,000 shares in Agnico Eagle Mines Ltd (USA) , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Agnico Eagle Mines Ltd (USA) makes up approximately 1.09% of Hussman Strategic Advisors’s portfolio.

Other Hedge Funds, Including , Agf Investments boosted its stake in AEM in the latest quarter, The investment management firm added 475,128 additional shares and now holds a total of 837,304 shares of Agnico Eagle Mines Ltd (USA) which is valued at $49,668,873. Agnico Eagle Mines Ltd (USA) makes up approx 0.54% of Agf Investments’s portfolio. Tradewinds Capital Management added AEM to its portfolio by purchasing 55 company shares during the most recent quarter which is valued at $3,198.Tocqueville Asset Management boosted its stake in AEM in the latest quarter, The investment management firm added 663,434 additional shares and now holds a total of 3,193,874 shares of Agnico Eagle Mines Ltd (USA) which is valued at $185,691,834. Agnico Eagle Mines Ltd (USA) makes up approx 2.31% of Tocqueville Asset Management’s portfolio.Capstone Asset Management Co reduced its stake in AEM by selling 14,520 shares or 36.04% in the most recent quarter. The Hedge Fund company now holds 25,771 shares of AEM which is valued at $1,464,051. Agnico Eagle Mines Ltd (USA) makes up approx 0.04% of Capstone Asset Management Co’s portfolio. Fruth Investment Management added AEM to its portfolio by purchasing 4,700 company shares during the most recent quarter which is valued at $267,007. Agnico Eagle Mines Ltd (USA) makes up approx 0.13% of Fruth Investment Management’s portfolio.

Agnico Eagle Mines Ltd (USA) opened for trading at $59.3 and hit $60.1001 on the upside on Thursday, eventually ending the session at $59.77, with a gain of 0.76% or 0.45 points. The heightened volatility saw the trading volume jump to 11,11,128 shares. Company has a market cap of $13,357 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). 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 (USA) was Upgraded by Desjardins to ” Buy” on Jul 13, 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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