Cheviot Value Management Lowers stake in Agnico Eagle Mines Ltd (USA) (AEM)

Agnico Eagle Mines Ltd (USA) (AEM) : Cheviot Value Management reduced its stake in Agnico Eagle Mines Ltd (USA) by 1.41% during the most recent quarter end. The investment management company now holds a total of 88,993 shares of Agnico Eagle Mines Ltd (USA) which is valued at $3,739,486 after selling 1,270 shares in Agnico Eagle Mines Ltd (USA) , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Agnico Eagle Mines Ltd (USA) makes up approximately 2.42% of Cheviot Value Management’s portfolio.

Other Hedge Funds, Including , Guardian Capital Lp boosted its stake in AEM in the latest quarter, The investment management firm added 210,754 additional shares and now holds a total of 1,466,504 shares of Agnico Eagle Mines Ltd (USA) which is valued at $61,622,498. Agnico Eagle Mines Ltd (USA) makes up approx 1.00% of Guardian Capital Lp’s portfolio. Citadel Advisors sold out all of its stake in AEM during the most recent quarter. The investment firm sold 149,697 shares of AEM which is valued $6,968,395. Evercore Wealth Management added AEM to its portfolio by purchasing 300 company shares during the most recent quarter which is valued at $13,965.Exane Derivatives boosted its stake in AEM in the latest quarter, The investment management firm added 1,701 additional shares and now holds a total of 16,164 shares of Agnico Eagle Mines Ltd (USA) which is valued at $782,338. Agnico Eagle Mines Ltd (USA) makes up approx 0.15% of Exane Derivatives’s portfolio.

Agnico Eagle Mines Ltd (USA) closed down -0.58 points or -1.36% at $42.2 with 24,05,816 shares getting traded on Monday. Post opening the session at $42.1, the shares hit an intraday low of $41.47 and an intraday high of $42.95 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Agnico Eagle Mines Ltd (USA) reported $0.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $0.18. The company had revenue of $610.90 million for the quarter, compared to analysts expectations of $555.47 million. The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.018 EPS.

Investors should note that on Oct 26, 2016, Agnico Eagle Mines Ltd (USA) announced a cash dividend of $0.1000. The company’s management has announced Nov 29, 2016 as the ex-dividend date and fixed the record date on Dec 1, 2016. The payable date has been fixed on Dec 15, 2016.

Many Wall Street Analysts have commented on Agnico Eagle Mines Ltd (USA). Agnico Eagle Mines Ltd (USA) was Upgraded by Raymond James to ” Outperform” on Oct 25, 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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