Agnico Eagle Mines Limited (NYSE:AEM) Short Interest Down 16.9% in January

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) was the recipient of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 4,829,239 shares, a decline of 16.9% from the January 15th total of 5,814,683 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 3,532,079 shares, the short-interest ratio is currently 1.4 days. Based on an average daily trading volume, of 3,532,079 shares, the short-interest ratio is currently 1.4 days. Currently, 1.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AEM shares. Canadian Imperial Bank of Commerce set a $296.00 target price on Agnico Eagle Mines and gave the company an “outperform” rating in a report on Wednesday, February 4th. Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. Raymond James Financial reissued an “outperform” rating and set a $225.00 target price on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Jefferies Financial Group set a $189.00 price target on shares of Agnico Eagle Mines in a research note on Sunday, December 7th. Finally, Royal Bank Of Canada lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $185.00 to $205.00 in a report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and an average target price of $230.64.

Agnico Eagle Mines Stock Up 5.7%

NYSE AEM traded up $11.72 during trading on Monday, hitting $216.93. 2,671,890 shares of the company traded hands, compared to its average volume of 3,153,031. Agnico Eagle Mines has a 12 month low of $92.11 and a 12 month high of $225.00. The business has a fifty day simple moving average of $190.57 and a 200 day simple moving average of $168.81. The company has a market capitalization of $108.69 billion, a P/E ratio of 24.43, a PEG ratio of 0.51 and a beta of 0.63. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.53% and a net margin of 37.47%.The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company posted $1.26 EPS. The firm’s revenue was up 60.3% on a year-over-year basis. As a group, sell-side analysts predict that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.8%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio is 18.02%.

Institutional Trading of Agnico Eagle Mines

A number of institutional investors and hedge funds have recently modified their holdings of AEM. True Wealth Design LLC raised its holdings in Agnico Eagle Mines by 381.3% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Acumen Wealth Advisors LLC bought a new stake in Agnico Eagle Mines during the fourth quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the second quarter valued at about $29,000. City State Bank increased its stake in shares of Agnico Eagle Mines by 69.2% in the second quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after purchasing an additional 110 shares during the period. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after purchasing an additional 74 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.