Agnico Eagle Mines Limited (NYSE:AEM) Stake Cut by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 22.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 820,205 shares of the mining company’s stock after selling 240,197 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Agnico Eagle Mines were worth $64,087,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Jones Financial Companies Lllp increased its position in Agnico Eagle Mines by 78.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company’s stock worth $255,000 after purchasing an additional 1,431 shares during the last quarter. Forsta AP Fonden increased its position in Agnico Eagle Mines by 8.9% in the 4th quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock worth $15,256,000 after purchasing an additional 16,000 shares during the last quarter. Resonant Capital Advisors LLC acquired a new position in Agnico Eagle Mines in the 4th quarter worth about $208,000. US Bancorp DE increased its position in Agnico Eagle Mines by 2.7% in the 4th quarter. US Bancorp DE now owns 6,770 shares of the mining company’s stock worth $529,000 after purchasing an additional 175 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Agnico Eagle Mines in the 4th quarter worth about $602,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $112.58 on Wednesday. The stock has a 50 day moving average of $110.97 and a two-hundred day moving average of $95.81. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 12 month low of $63.01 and a 12 month high of $126.76. The company has a market capitalization of $56.66 billion, a P/E ratio of 29.78, a P/E/G ratio of 0.66 and a beta of 0.54.

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

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given 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 dividend yield of 1.42%. Agnico Eagle Mines’s dividend payout ratio is currently 34.04%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. TD Securities lowered their price objective 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. StockNews.com lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Raymond James increased their price objective on Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Finally, Citigroup increased their price objective on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a report on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $124.40.

Agnico Eagle Mines Profile

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.