Financial Sense Advisors Inc. Cuts Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Financial Sense Advisors Inc. cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 15.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,224 shares of the mining company’s stock after selling 9,679 shares during the quarter. Agnico Eagle Mines makes up 1.4% of Financial Sense Advisors Inc.’s investment portfolio, making the stock its 19th largest holding. Financial Sense Advisors Inc.’s holdings in Agnico Eagle Mines were worth $4,163,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AEM. Van ECK Associates Corp increased its holdings in Agnico Eagle Mines by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock worth $1,745,858,000 after buying an additional 778,919 shares during the last quarter. FMR LLC grew its holdings in Agnico Eagle Mines by 43.5% during the third quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock valued at $1,213,311,000 after purchasing an additional 4,562,005 shares during the period. CIBC Asset Management Inc increased its holdings in Agnico Eagle Mines by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock worth $499,956,000 after acquiring an additional 332,576 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Agnico Eagle Mines by 16.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock worth $474,660,000 after purchasing an additional 817,240 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Agnico Eagle Mines by 7.4% in the 3rd quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock worth $334,749,000 after purchasing an additional 285,565 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AEM shares. Royal Bank of Canada upped their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. TD Securities decreased their target price on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday. Scotiabank boosted their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. StockNews.com raised shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Jefferies Financial Group lifted their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $94.63.

Agnico Eagle Mines Stock Up 0.8 %

Shares of NYSE:AEM opened at $98.08 on Thursday. The firm has a fifty day moving average of $87.21 and a 200 day moving average of $83.66. Agnico Eagle Mines Limited has a 52-week low of $47.73 and a 52-week high of $101.45. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The firm has a market capitalization of $49.33 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 0.64 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 4.71 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Agnico Eagle Mines Profile

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.