Tectonic Advisors LLC Reduces Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Tectonic Advisors LLC decreased its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 54.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,235 shares of the mining company’s stock after selling 12,405 shares during the quarter. Tectonic Advisors LLC’s holdings in Agnico Eagle Mines were worth $1,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Violich Capital Management Inc. grew its holdings in Agnico Eagle Mines by 3.2% in the 1st quarter. Violich Capital Management Inc. now owns 36,327 shares of the mining company’s stock valued at $3,938,000 after buying an additional 1,110 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Agnico Eagle Mines by 1,033.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,221 shares of the mining company’s stock valued at $241,000 after buying an additional 2,025 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Agnico Eagle Mines by 3.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company’s stock valued at $1,457,160,000 after buying an additional 499,362 shares during the period. Dakota Wealth Management purchased a new stake in Agnico Eagle Mines in the 1st quarter valued at about $451,000. Finally, SBI Securities Co. Ltd. grew its holdings in Agnico Eagle Mines by 147.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,735 shares of the mining company’s stock valued at $405,000 after buying an additional 2,224 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $119.12 on Wednesday. The business’s 50 day moving average is $117.85 and its two-hundred day moving average is $106.31. Agnico Eagle Mines Limited has a 52-week low of $69.72 and a 52-week high of $126.76. The firm has a market cap of $59.89 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 0.89 and a beta of 0.50. The company has a quick ratio of 1.20, a current ratio of 2.37 and a debt-to-equity ratio of 0.05.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 12.09% and a net margin of 26.48%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the company posted $0.76 EPS. Agnico Eagle Mines’s quarterly revenue was up 34.9% on a year-over-year basis. Analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.40 dividend. This represents a dividend yield of 1.36%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines’s payout ratio is 34.04%.

Wall Street Analyst Weigh In

Several analysts have commented on AEM shares. Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. BMO Capital Markets started coverage on Agnico Eagle Mines in a research note on Wednesday, April 16th. They issued an “outperform” rating and a $181.00 price objective on the stock. Raymond James Financial raised Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price objective on the stock in a research note on Monday, June 30th. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Finally, UBS Group lifted their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $136.90.

Agnico Eagle Mines Company 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.