Insight 2811 Inc. Trims Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Insight 2811 Inc. reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,776 shares of the mining company’s stock after selling 396 shares during the quarter. Insight 2811 Inc.’s holdings in Agnico Eagle Mines were worth $374,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Versant Capital Management Inc purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC lifted its position in Agnico Eagle Mines by 859.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after acquiring an additional 318 shares during the period. Decker Retirement Planning Inc. purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $29,000. Fifth Third Bancorp increased its holdings in shares of Agnico Eagle Mines by 176.9% in the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after purchasing an additional 260 shares during the period. Finally, Duncker Streett & Co. Inc. increased its holdings in shares of Agnico Eagle Mines by 37.3% in the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after purchasing an additional 112 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $104.18 on Tuesday. The company has a market capitalization of $52.40 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 0.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. Agnico Eagle Mines Limited has a 1 year low of $55.98 and a 1 year high of $107.88. The company’s 50 day simple moving average is $96.20 and its 200 day simple moving average is $87.12.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. On average, sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AEM. StockNews.com downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Scotiabank raised their target price on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. Raymond James set a $105.00 price objective on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Finally, TD Securities lowered their price objective on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $95.78.

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.