Financial Management Professionals Inc. Decreases Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Financial Management Professionals Inc. reduced its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 25.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 335 shares of the mining company’s stock after selling 115 shares during the quarter. Financial Management Professionals Inc.’s holdings in Agnico Eagle Mines were worth $36,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AEM. Jones Financial Companies Lllp raised its holdings in shares of Agnico Eagle Mines by 78.3% in 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 last quarter. US Bancorp DE raised its stake 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 worth $529,000 after purchasing an additional 175 shares during the last quarter. Compound Global Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $782,000. Captrust Financial Advisors raised its stake in shares of Agnico Eagle Mines by 6.5% in the fourth quarter. Captrust Financial Advisors now owns 5,663 shares of the mining company’s stock worth $443,000 after purchasing an additional 347 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $814,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AEM has been the subject of several research analyst reports. UBS Group raised their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Cfra Research raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, April 25th. Raymond James raised their target price on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Citigroup lifted their price objective on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Finally, Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $127.40.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $123.63 on Thursday. 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 twelve month low of $63.01 and a twelve month high of $126.76. The business has a 50-day moving average price of $113.91 and a 200 day moving average price of $98.57. The firm has a market cap of $62.24 billion, a PE ratio of 32.71, a P/E/G ratio of 0.66 and a beta of 0.54.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.14. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The business’s revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. Sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a yield of 1.36%. The ex-dividend date is Friday, May 30th. Agnico Eagle Mines’s payout ratio is presently 34.04%.

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.