PCJ Investment Counsel Ltd. Sells 3,600 Shares of Agnico Eagle Mines Limited $AEM

PCJ Investment Counsel Ltd. cut its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,360 shares of the mining company’s stock after selling 3,600 shares during the quarter. Agnico Eagle Mines comprises about 1.6% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 18th largest position. PCJ Investment Counsel Ltd.’s holdings in Agnico Eagle Mines were worth $5,786,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AEM. Pure Portfolios Holdings LLC lifted its holdings in Agnico Eagle Mines by 1.6% in the third quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company’s stock valued at $637,000 after buying an additional 60 shares during the period. HB Wealth Management LLC grew its holdings in Agnico Eagle Mines by 1.2% during the 3rd quarter. HB Wealth Management LLC now owns 5,640 shares of the mining company’s stock worth $951,000 after acquiring an additional 69 shares during the period. Union Bancaire Privee UBP SA grew its holdings in Agnico Eagle Mines by 1.6% during the 3rd quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company’s stock worth $749,000 after acquiring an additional 72 shares during the period. Blue Bell Private Wealth Management LLC raised its position in shares of Agnico Eagle Mines by 59.7% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Agnico Eagle Mines by 0.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company’s stock worth $979,000 after acquiring an additional 77 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AEM shares. UBS Group restated a “neutral” rating and set a $240.00 target price on shares of Agnico Eagle Mines in a research report on Friday, January 30th. TD Securities lifted their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Canadian Imperial Bank of Commerce set a $296.00 price target on Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Scotiabank restated an “outperform” rating and set a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $225.00 price objective on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $234.91.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $227.05 on Wednesday. Agnico Eagle Mines Limited has a one year low of $94.77 and a one year high of $255.24. The company has a market cap of $113.76 billion, a PE ratio of 25.57 and a beta of 0.61. The stock has a 50-day moving average of $209.71 and a 200-day moving average of $179.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.13. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The firm’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 EPS. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. Agnico Eagle Mines’s payout ratio is currently 20.27%.

Agnico Eagle Mines 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.