Smith Moore & CO. Sells 375 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Smith Moore & CO. reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,204 shares of the mining company’s stock after selling 375 shares during the period. Smith Moore & CO.’s holdings in Agnico Eagle Mines were worth $954,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its position in shares of Agnico Eagle Mines by 78.3% in the fourth quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company’s stock valued at $255,000 after purchasing an additional 1,431 shares during the period. Caldwell Investment Management Ltd. raised its holdings in Agnico Eagle Mines by 12.0% during the 4th quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock valued at $6,812,000 after acquiring an additional 9,400 shares during the period. Forsta AP Fonden lifted its position in shares of Agnico Eagle Mines by 8.9% during the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock worth $15,256,000 after acquiring an additional 16,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Agnico Eagle Mines by 8.6% in the third quarter. Geode Capital Management LLC now owns 2,256,714 shares of the mining company’s stock worth $183,491,000 after acquiring an additional 178,999 shares during the period. Finally, Resonant Capital Advisors LLC purchased a new position in shares of Agnico Eagle Mines in the fourth quarter valued at $208,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AEM shares. Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. Raymond James boosted their price objective on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada increased their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group downgraded shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and raised their price target for the company from $100.00 to $110.00 in a report on Monday, March 31st. Finally, Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $108.00.

Agnico Eagle Mines Price Performance

AEM opened at $99.45 on Friday. The stock has a market capitalization of $50.02 billion, a P/E ratio of 26.31, a PEG ratio of 0.66 and a beta of 0.87. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 12-month low of $60.15 and a 12-month high of $111.04. The stock has a 50-day moving average price of $99.77 and a 200-day moving average price of $88.66.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results 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 return on equity of 10.45% and a net margin of 22.88%. Equities analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.61%. Agnico Eagle Mines’s payout ratio is 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.