Agnico Eagle Mines LTD (AEM) Stock Price Rose While Sprott INC Cut by $9.78 Million Its Stake

February 17, 2018 - By Marguerite Chambers

Eric Sprott decreased its stake in Agnico Eagle Mines Ltd (AEM) by 55% based on its latest 2017Q3 regulatory filing with the SEC. Sprott Inc sold 217,386 shares as the company’s stock rose 5.17% with the market. The hedge fund run by Eric Sprott held 177,830 shares of the precious metals company at the end of 2017Q3, valued at $8.04 million, down from 395,216 at the end of the previous reported quarter. Sprott Inc who had been investing in Agnico Eagle Mines Ltd for a number of months, seems to be less bullish one the $9.92 billion market cap company. The stock decreased 4.43% or $2 during the last trading session, reaching $43.1. About 3.76M shares traded or 173.20% up from the average. Agnico Eagle Mines Limited (NYSE:AEM) has risen 7.82% since February 17, 2017 and is uptrending. It has underperformed by 8.88% the S&P500.

Sprott Inc, which manages about $3.27 billion and $389.45M US Long portfolio, upped its stake in Sandstorm Gold Ltd (NYSEMKT:SAND) by 2.55 million shares to 2.63 million shares, valued at $11.92M in 2017Q3, according to the filing.

Analysts await Agnico Eagle Mines Limited (NYSE:AEM) to report earnings on February, 21. They expect $0.20 EPS, up 900.00 % or $0.18 from last year’s $0.02 per share. AEM’s profit will be $46.05 million for 53.88 P/E if the $0.20 EPS becomes a reality. After $0.28 actual EPS reported by Agnico Eagle Mines Limited for the previous quarter, Wall Street now forecasts -28.57 % negative EPS growth.

More notable recent Agnico Eagle Mines Limited (NYSE:AEM) news were published by: Fool.ca which released: “Why Agnico Eagle Mines Ltd. Rose 2.4% Last Week” on October 30, 2017, also Fool.ca with their article: “Looking for a Way to Play Gold? Consider Agnico Eagle Mines Ltd.” published on February 05, 2018, Marketwatch.com published: “Agnico Eagle Mines Ltd.” on January 19, 2016. More interesting news about Agnico Eagle Mines Limited (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: “Barrick Gold Corp. vs Agnico Eagle Mines Ltd.: Which Stock Is Set to Soar?” with publication date: January 20, 2016.

Agnico Eagle Mines Limited (NYSE:AEM) Ratings Coverage

Among 16 analysts covering Agnico-Eagle Mines (NYSE:AEM), 10 have Buy rating, 0 Sell and 6 Hold. Therefore 63% are positive. Agnico-Eagle Mines had 46 analyst reports since July 24, 2015 according to SRatingsIntel. The rating was maintained by Barclays Capital with “Equal Weight” on Friday, July 31. As per Monday, August 24, the company rating was maintained by Canaccord Genuity. RBC Capital Markets maintained the shares of AEM in report on Monday, June 12 with “Hold” rating. The stock of Agnico Eagle Mines Limited (NYSE:AEM) earned “Buy” rating by Desjardins Securities on Wednesday, July 13. On Tuesday, October 25 the stock rating was upgraded by Raymond James to “Outperform”. Citigroup initiated it with “Sell” rating and $44 target in Tuesday, August 2 report. The stock has “Hold” rating by TD Securities on Thursday, October 19. JP Morgan downgraded Agnico Eagle Mines Limited (NYSE:AEM) rating on Monday, April 18. JP Morgan has “Neutral” rating and $39 target. The firm has “Outperform” rating given on Thursday, January 14 by BMO Capital Markets. The rating was downgraded by Raymond James on Friday, October 16 to “Outperform”.

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