Philadelphia Trust Co. Trims Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Philadelphia Trust Co. reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,934 shares of the mining company’s stock after selling 116 shares during the period. Philadelphia Trust Co.’s holdings in Agnico Eagle Mines were worth $752,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AEM. DAVENPORT & Co LLC purchased a new position in shares of Agnico Eagle Mines during the first quarter worth approximately $226,000. Bank of New York Mellon Corp grew its position in shares of Agnico Eagle Mines by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 485,317 shares of the mining company’s stock worth $52,613,000 after acquiring an additional 5,717 shares during the last quarter. Private Trust Co. NA grew its position in Agnico Eagle Mines by 454.9% in the 1st quarter. Private Trust Co. NA now owns 283 shares of the mining company’s stock valued at $31,000 after buying an additional 232 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Agnico Eagle Mines in the 1st quarter valued at $34,000. Finally, Captrust Financial Advisors grew its position in Agnico Eagle Mines by 6.5% in the 4th quarter. Captrust Financial Advisors now owns 5,663 shares of the mining company’s stock valued at $443,000 after buying an additional 347 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 0.4%

Shares of AEM stock opened at $133.28 on Friday. The firm has a market cap of $67.02 billion, a P/E ratio of 22.67, a PEG ratio of 0.92 and a beta of 0.44. Agnico Eagle Mines Limited has a 1-year low of $75.17 and a 1-year high of $137.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.03 and a quick ratio of 1.16. The firm’s 50-day simple moving average is $123.98 and its 200-day simple moving average is $113.18.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a net margin of 30.63% and a return on equity of 13.79%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the firm posted $1.07 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 136.0%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 27.21%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AEM shares. TD Securities upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Thursday, July 17th. Lake Street Capital reiterated a “buy” rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Royal Bank Of Canada lifted their price objective on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. Raymond James Financial upgraded shares of Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price objective on the stock in a research report on Monday, June 30th. Finally, Bank of America lifted their price objective on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target 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.