Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Cannell & Co.

Cannell & Co. decreased its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 22.8% in the 4th quarter, HoldingsChannel reports. The fund owned 167,646 shares of the mining company’s stock after selling 49,447 shares during the quarter. Cannell & Co.’s holdings in Agnico Eagle Mines were worth $9,195,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Blair William & Co. IL boosted its stake in shares of Agnico Eagle Mines by 5.9% during the third quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock valued at $1,078,000 after acquiring an additional 1,313 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Agnico Eagle Mines by 15.5% during the 4th quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock valued at $19,990,000 after buying an additional 48,782 shares during the period. Wellington Management Group LLP increased its holdings in Agnico Eagle Mines by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock worth $28,752,000 after purchasing an additional 34,072 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in Agnico Eagle Mines during the 4th quarter worth approximately $41,610,000. Finally, Sprott Inc. increased its stake in Agnico Eagle Mines by 4.1% during the third quarter. Sprott Inc. now owns 1,412,300 shares of the mining company’s stock valued at $65,249,000 after purchasing an additional 55,032 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

AEM has been the topic of a number of recent research reports. Jefferies Financial Group raised their price target on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. CIBC upped their price target on shares of Agnico Eagle Mines from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Raymond James lifted their price target on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Finally, TD Securities lifted their target price on Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $69.63.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock traded up $0.47 during trading on Wednesday, hitting $63.82. The stock had a trading volume of 945,477 shares, compared to its average volume of 3,286,473. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.21 and a quick ratio of 0.88. The firm has a market cap of $31.82 billion, a P/E ratio of 67.09, a PEG ratio of 0.88 and a beta of 1.06. The business has a fifty day moving average of $57.55 and a two-hundred day moving average of $52.90. Agnico Eagle Mines Limited has a fifty-two week low of $43.22 and a fifty-two week high of $67.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 25th. The mining company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.16. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company’s revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share. On average, sell-side analysts expect that Agnico Eagle Mines Limited will post 2.81 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.60 annualized dividend and a dividend yield of 2.51%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 168.42%.

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.