Voya Investment Management LLC Reduces Position in Agnico Eagle Mines Limited (NYSE:AEM)

Voya Investment Management LLC lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 59.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,493 shares of the mining company’s stock after selling 12,222 shares during the period. Voya Investment Management LLC’s holdings in Agnico Eagle Mines were worth $664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dauntless Investment Group LLC acquired a new position in Agnico Eagle Mines in the 4th quarter worth approximately $348,000. Integrated Wealth Concepts LLC boosted its holdings in shares of Agnico Eagle Mines by 6.0% in the 4th quarter. Integrated Wealth Concepts LLC now owns 6,668 shares of the mining company’s stock valued at $522,000 after acquiring an additional 379 shares during the last quarter. Coppell Advisory Solutions LLC boosted its holdings in shares of Agnico Eagle Mines by 235.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company’s stock valued at $37,000 after acquiring an additional 329 shares during the last quarter. Susquehanna Advisors Group Inc. acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter worth $3,101,000. Finally, Hsbc Holdings PLC lifted its position in Agnico Eagle Mines by 26.8% during the fourth quarter. Hsbc Holdings PLC now owns 627,559 shares of the mining company’s stock valued at $49,048,000 after purchasing an additional 132,625 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $114.61 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. Agnico Eagle Mines Limited has a 1-year low of $63.01 and a 1-year high of $126.76. The company has a market cap of $57.68 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54. The stock’s 50 day simple moving average is $109.47 and its 200-day simple moving average is $94.59.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.14. The company had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 EPS. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a yield of 1.40%. Agnico Eagle Mines’s payout ratio is 34.04%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AEM. UBS Group lifted their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. National Bank Financial raised Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Cfra Research raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, April 25th. BMO Capital Markets began coverage on shares of Agnico Eagle Mines in a report on Wednesday, April 16th. They set an “outperform” rating and a $181.00 price target on the stock. Finally, Citigroup lifted their price objective on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a report on Monday, March 31st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Buy” and a consensus target price of $124.40.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.