1832 Asset Management Lp Decreased Agnico Eagle Mines Ltd (NYSE:AEM) Stake By $27.28 Million

November 24, 2017 - By Richard Conner

1832 Asset Management Lp decreased its stake in Agnico Eagle Mines Ltd (NYSE:AEM) by 22.66% based on its latest 2017Q3 regulatory filing with the SEC. 1832 Asset Management Lp sold 634,482 shares as the company’s stock rose 5.17% with the market. The institutional investor held 2.17 million shares of the precious metals company at the end of 2017Q3, valued at $94.68M, down from 2.80 million at the end of the previous reported quarter. 1832 Asset Management Lp who had been investing in Agnico Eagle Mines Ltd for a number of months, seems to be less bullish one the $10.56B market cap company. The stock increased 1.13% or $0.5 on November 22, reaching $44.92. About 771,898 shares traded. Agnico Eagle Mines Ltd (USA) (NYSE:AEM) has risen 7.82% since November 24, 2016 and is uptrending. It has underperformed by 8.88% the S&P500.

1832 Asset Management Lp, which manages about $36.47B and $28.55B US Long portfolio, upped its stake in Bank Montreal Que (NYSE:BMO) by 3.08 million shares to 4.63M shares, valued at $343.43 million in 2017Q3, according to the filing. It also increased its holding in Paypal Hldgs Inc () by 204,298 shares in the quarter, for a total of 1.18 million shares, and has risen its stake in Tal Ed Group (NYSE:XRS).

1832 Asset Management Lp is a Ontario, Canada-based institutional investor with more than $36.47 billion AUM in February, 2014. Taken from 1832 Asset Management latest Adv, the fund reported to have 8 full and part-time employees. Among which 8 performing investment advisory and research functions. The institutional investor had more than 200 clients.

Agnico Eagle Mines Ltd (USA) (NYSE:AEM) Ratings Coverage

Among 16 analysts covering Agnico-Eagle Mines (NYSE:AEM), 10 have Buy rating, 1 Sell and 5 Hold. Therefore 63% are positive. Agnico-Eagle Mines had 44 analyst reports since July 24, 2015 according to SRatingsIntel. The stock has “Overweight” rating by Barclays Capital on Friday, February 12. The rating was maintained by Barclays Capital on Friday, July 31 with “Equal Weight”. The firm has “Buy” rating by Bank of America given on Wednesday, August 12. The stock has “Overweight” rating by JP Morgan on Wednesday, March 29. As per Tuesday, November 14, the company rating was maintained by BMO Capital Markets. RBC Capital Markets maintained the shares of AEM in report on Monday, June 12 with “Hold” rating. The stock has “Overweight” rating by Barclays Capital on Thursday, January 14. The firm has “Hold” rating by Desjardins Securities given on Tuesday, February 2. As per Thursday, March 16, the company rating was maintained by RBC Capital Markets. On Monday, March 14 the stock rating was downgraded by Raymond James to “Market Perform”.

Agnico Eagle Mines Ltd is a Canada-based gold producer with mining activities in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. The company has market cap of $10.56 billion. It operates through the business units: Northern Business, which consists of its activities in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its activities in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions. It has a 38.24 P/E ratio.

More notable recent Agnico Eagle Mines Ltd (USA) (NYSE:AEM) news were published by: Fool.ca which released: “Is Agnico-Eagle Mines Ltd. the Best Gold Stock Today?” on June 12, 2015, also Benzinga.com with their article: “Citi Looking At Gold Stocks, Says Sell Agnico Eagle Mines” published on August 02, 2016, Fool.ca published: “Agnico Eagle Mines Ltd. Shares Rally 4% Ahead of Better-Than-Expected Results” on August 01, 2017. More interesting news about Agnico Eagle Mines Ltd (USA) (NYSE:AEM) were released by: Fool.ca and their article: “Should You Buy Shares of Agnico Eagle Mines Ltd. Today?” published on February 13, 2015 as well as Fool.ca‘s news article titled: “Why Agnico Eagle Mines Ltd. Rose 2.4% Last Week” with publication date: October 30, 2017.

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