Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 32,828 shares of the mining company’s stock after selling 100 shares during the period. Parsons Capital Management Inc. RI’s holdings in Agnico Eagle Mines were worth $3,559,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AEM. Benjamin Edwards Inc. boosted its stake 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 valued at $428,000 after buying an additional 106 shares during the period. Duncker Streett & Co. Inc. lifted its stake in shares of Agnico Eagle Mines by 37.3% in the 4th 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 last quarter. Laird Norton Wetherby Wealth Management LLC lifted its stake in shares of Agnico Eagle Mines by 1.8% in the 4th 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 last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Agnico Eagle Mines by 19.3% in the 1st 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 last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Agnico Eagle Mines by 24.5% in the 4th 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 last quarter. Institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AEM. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Bank of America lifted their price objective on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the company a “buy” rating in a research note on Tuesday, April 8th. Citigroup lifted their price objective on shares of 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, Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $127.40.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $118.53 on Tuesday. The stock has a 50-day simple moving average of $114.60 and a 200 day simple moving average of $99.57. Agnico Eagle Mines Limited has a twelve month low of $63.43 and a twelve month 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. The stock has a market capitalization of $59.67 billion, a PE ratio of 31.36, a P/E/G ratio of 0.66 and a beta of 0.51.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.14. The business had revenue of $2.38 billion for 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 firm’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 earnings per share. Research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

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