Evanson Asset Management LLC Sells 703 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Evanson Asset Management LLC trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 15.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,823 shares of the mining company’s stock after selling 703 shares during the quarter. Evanson Asset Management LLC’s holdings in Agnico Eagle Mines were worth $210,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Blair William & Co. IL increased its holdings in Agnico Eagle Mines by 5.9% during the 3rd quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock worth $1,078,000 after purchasing an additional 1,313 shares during the period. Wellington Management Group LLP grew its holdings in shares of Agnico Eagle Mines by 5.7% during the third quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock valued at $28,752,000 after buying an additional 34,072 shares during the last quarter. Sprott Inc. lifted its holdings in shares of Agnico Eagle Mines by 4.1% during the third quarter. Sprott Inc. now owns 1,412,300 shares of the mining company’s stock worth $65,249,000 after purchasing an additional 55,032 shares during the period. Alberta Investment Management Corp boosted its holdings in shares of Agnico Eagle Mines by 9.9% in the 2nd quarter. Alberta Investment Management Corp now owns 1,670,650 shares of the mining company’s stock valued at $83,517,000 after acquiring an additional 151,147 shares during the last quarter. Finally, Ninety One UK Ltd raised its stake in shares of Agnico Eagle Mines by 8.3% during the 3rd quarter. Ninety One UK Ltd now owns 3,227,830 shares of the mining company’s stock valued at $147,199,000 after buying an additional 247,558 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Raymond James raised their price target on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Wednesday, January 3rd. TD Securities dropped their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Jefferies Financial Group assumed coverage on shares of Agnico Eagle Mines in a research report on Thursday, February 29th. They set a “hold” rating and a $54.00 price target for the company. Finally, CIBC lowered their price objective on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.71.

Agnico Eagle Mines Stock Performance

AEM stock traded up $1.79 during midday trading on Thursday, hitting $59.64. 4,761,913 shares of the company traded hands, compared to its average volume of 3,114,636. The stock has a market capitalization of $29.70 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 24.36 and a beta of 1.03. The company has a quick ratio of 0.74, a current ratio of 2.09 and a debt-to-equity ratio of 0.10. Agnico Eagle Mines Limited has a twelve month low of $43.22 and a twelve month high of $61.15. The business has a 50 day simple moving average of $50.83 and a 200-day simple moving average of $50.31.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.09. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue was up 26.9% compared to the same quarter last year. As a group, equities research analysts predict that Agnico Eagle Mines Limited will post 2.3 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.60 annualized dividend and a yield of 2.68%. Agnico Eagle Mines’s dividend payout ratio is 38.93%.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. 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.