Agnico Eagle Mines Limited (NYSE:AEM) Short Interest Update

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

Hedge Funds Weigh In On Agnico Eagle Mines

A number of large investors have recently modified their holdings of AEM. TD Waterhouse Canada Inc. increased its position in shares of Agnico Eagle Mines by 13.4% in the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock worth $192,951,000 after acquiring an additional 134,147 shares in the last quarter. Ninety One UK Ltd boosted its stake in Agnico Eagle Mines by 386.5% in the 3rd quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after purchasing an additional 149,506 shares during the period. Campbell & CO Investment Adviser LLC grew its position in Agnico Eagle Mines by 1,560.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after purchasing an additional 45,746 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in Agnico Eagle Mines during the 3rd quarter valued at $23,958,000. Finally, Addenda Capital Inc. lifted its holdings in shares of Agnico Eagle Mines by 2.3% in the third quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock valued at $122,076,000 after purchasing an additional 15,965 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on AEM. Citigroup raised their target price on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Raymond James Financial reiterated an “outperform” rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 31st. Finally, Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus price target of $230.64.

Agnico Eagle Mines Trading Up 5.7%

Shares of AEM traded up $11.72 during mid-day trading on Monday, hitting $216.93. The company had a trading volume of 2,671,890 shares, compared to its average volume of 3,153,031. Agnico Eagle Mines has a 1-year low of $92.11 and a 1-year high of $225.00. The business’s 50-day simple moving average is $190.57 and its 200-day simple moving average is $168.81. The stock has a market cap of $108.69 billion, a PE ratio of 24.43, a P/E/G ratio of 0.51 and a beta of 0.63. The company has a quick ratio of 1.31, a current ratio of 2.12 and a debt-to-equity ratio of 0.01.

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. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.53%. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the firm posted $1.26 earnings per share. Agnico Eagle Mines’s revenue was up 60.3% on a year-over-year basis. Sell-side analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a $0.45 dividend. The ex-dividend date is Monday, March 2nd. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. Agnico Eagle Mines’s payout ratio is 18.02%.

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.