Agnico Eagle Mines Limited (NYSE:AEM) Stock Holdings Trimmed by Investment Management Corp of Ontario

Investment Management Corp of Ontario cut its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,678 shares of the mining company’s stock after selling 2,596 shares during the quarter. Investment Management Corp of Ontario’s holdings in Agnico Eagle Mines were worth $1,539,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of Agnico Eagle Mines by 78.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company’s stock worth $255,000 after buying an additional 1,431 shares during the period. Caldwell Investment Management Ltd. lifted its position in Agnico Eagle Mines by 12.0% in the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock worth $6,812,000 after purchasing an additional 9,400 shares during the period. Forsta AP Fonden increased its holdings in shares of Agnico Eagle Mines by 8.9% in the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock valued at $15,256,000 after buying an additional 16,000 shares in the last quarter. Resonant Capital Advisors LLC bought a new position in shares of Agnico Eagle Mines in the fourth quarter valued at $208,000. Finally, US Bancorp DE increased its holdings in shares of Agnico Eagle Mines by 2.7% in the fourth quarter. US Bancorp DE now owns 6,770 shares of the mining company’s stock valued at $529,000 after buying an additional 175 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. TD Securities dropped their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Cfra Research upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, April 25th. BMO Capital Markets assumed 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. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Finally, Raymond James boosted their price target on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $124.40.

Agnico Eagle Mines Trading Up 2.1%

Shares of NYSE:AEM opened at $117.04 on Monday. The company has a market cap of $58.90 billion, a P/E ratio of 30.96, a P/E/G ratio of 0.66 and a beta of 0.54. The stock’s 50-day moving average is $109.90 and its 200-day moving average is $94.88. Agnico Eagle Mines Limited has a 52-week low of $63.01 and a 52-week high of $126.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.14. The firm had revenue of $2.38 billion during 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 company’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. Equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Monday, December 1st. Agnico Eagle Mines’s dividend payout ratio is 34.04%.

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.