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

Philadelphia Trust Co. decreased its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AEM. Brighton Jones LLC boosted its position in shares of Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after buying an additional 331 shares during the period. Rockefeller Capital Management L.P. acquired a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $783,000. Mariner LLC lifted its stake in shares of Agnico Eagle Mines by 15.9% in the fourth quarter. Mariner LLC now owns 45,024 shares of the mining company’s stock worth $3,521,000 after acquiring an additional 6,171 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Agnico Eagle Mines by 1.5% in the fourth quarter. Evergreen Capital Management LLC now owns 24,674 shares of the mining company’s stock worth $1,930,000 after acquiring an additional 360 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its stake in shares of Agnico Eagle Mines by 7.0% in the fourth quarter. Insigneo Advisory Services LLC now owns 2,994 shares of the mining company’s stock worth $234,000 after acquiring an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

AEM opened at $133.28 on Friday. The firm has a market cap of $67.02 billion, a PE ratio of 22.67, a P/E/G ratio of 0.92 and a beta of 0.44. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $123.98 and a 200-day simple moving average of $113.18. Agnico Eagle Mines Limited has a fifty-two week low of $75.17 and a fifty-two week high of $137.81.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%. The company’s revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company posted $1.07 EPS. As a group, equities analysts predict 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. Stockholders of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 136.0%. Agnico Eagle Mines’s dividend payout ratio is presently 27.21%.

Wall Street Analysts Forecast Growth

AEM has been the topic of several research reports. CIBC restated an “outperform” rating on shares of Agnico Eagle Mines in a research note on Tuesday, July 15th. Lake Street Capital restated a “buy” rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. TD Securities upgraded Agnico Eagle Mines to a “strong-buy” rating in a research note on Thursday, July 17th. Bank of America upped their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. Finally, Raymond James Financial upgraded Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price target on the stock in a research report on Monday, June 30th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $136.90.

About Agnico Eagle Mines

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.