Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Welch Group LLC

Welch Group LLC lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,752 shares of the mining company’s stock after selling 300 shares during the period. Welch Group LLC’s holdings in Agnico Eagle Mines were worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Benjamin Edwards Inc. increased its holdings in shares of Agnico Eagle Mines by 2.0% during the 4th quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company’s stock worth $428,000 after buying an additional 106 shares during the last quarter. Duncker Streett & Co. Inc. raised its position in Agnico Eagle Mines by 37.3% in the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after purchasing an additional 112 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its position in Agnico Eagle Mines by 1.8% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company’s stock valued at $543,000 after purchasing an additional 120 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Agnico Eagle Mines by 19.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company’s stock valued at $84,000 after purchasing an additional 125 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Agnico Eagle Mines by 24.5% in the fourth quarter. Quadrant Capital Group LLC now owns 787 shares of the mining company’s stock valued at $62,000 after purchasing an additional 155 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AEM. UBS Group boosted their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, April 11th. TD Securities cut their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Stifel Canada raised Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. Bank of America boosted their target price on Agnico Eagle Mines from $119.00 to $142.00 and gave the company a “buy” rating in a research report on Tuesday, April 8th. Finally, Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Two 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $124.40.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $118.24 on Friday. The company has a fifty day simple moving average of $112.65 and a two-hundred day simple moving average of $97.32. The company has a market cap of $59.50 billion, a price-to-earnings ratio of 31.28, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52 week low of $63.01 and a 52 week high of $126.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its 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. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The company’s revenue was up 34.9% compared to the same quarter last year. As a group, equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a yield of 1.36%. The ex-dividend date of this dividend is Friday, May 30th. Agnico Eagle Mines’s dividend payout ratio is presently 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.