Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Foundation Resource Management Inc.

Foundation Resource Management Inc. lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 307,001 shares of the mining company’s stock after selling 9,515 shares during the quarter. Agnico Eagle Mines comprises 5.2% of Foundation Resource Management Inc.’s holdings, making the stock its 5th biggest position. Foundation Resource Management Inc. owned 0.06% of Agnico Eagle Mines worth $33,282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after buying an additional 331 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of Agnico Eagle Mines by 2.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 10,712 shares of the mining company’s stock valued at $838,000 after purchasing an additional 241 shares in the last quarter. Choreo LLC boosted its stake in shares of Agnico Eagle Mines by 13.0% in the 4th quarter. Choreo LLC now owns 16,034 shares of the mining company’s stock valued at $1,250,000 after purchasing an additional 1,842 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Agnico Eagle Mines by 12.3% in the 4th quarter. Bleakley Financial Group LLC now owns 7,455 shares of the mining company’s stock valued at $583,000 after purchasing an additional 815 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Agnico Eagle Mines by 65.2% in the 4th quarter. Empowered Funds LLC now owns 71,788 shares of the mining company’s stock valued at $5,615,000 after purchasing an additional 28,324 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Cfra Research upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, April 25th. Citigroup lifted their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Bank of America lifted their target price on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, April 8th. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Scotiabank reiterated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Two equities research 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 stock. According to data from MarketBeat, Agnico Eagle Mines has a consensus rating of “Buy” and a consensus price target of $127.40.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $117.93 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $59.37 billion, a PE ratio of 31.20, a P/E/G ratio of 0.66 and a beta of 0.51. The firm has a fifty day simple moving average of $114.38 and a 200 day simple moving average of $99.33. Agnico Eagle Mines Limited has a twelve month low of $63.43 and a twelve month high of $126.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted 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 business 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 business’s quarterly revenue was up 34.9% on a year-over-year basis. During the same period last year, the company posted $0.76 earnings per share. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

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