Bank of Nova Scotia Sells 163,892 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Bank of Nova Scotia trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,573,155 shares of the mining company's stock after selling 163,892 shares during the period. Bank of Nova Scotia owned approximately 0.51% of Agnico Eagle Mines worth $201,278,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc acquired a new stake in Agnico Eagle Mines in the fourth quarter worth $26,000. Smartleaf Asset Management LLC increased its position in shares of Agnico Eagle Mines by 859.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company's stock valued at $28,000 after buying an additional 318 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in Agnico Eagle Mines during the 4th quarter worth $29,000. Fifth Third Bancorp lifted its holdings in Agnico Eagle Mines by 176.9% during the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company's stock worth $32,000 after acquiring an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. grew its stake in 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 acquiring an additional 112 shares during the period. Institutional investors own 68.34% of the company's stock.

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Agnico Eagle Mines Stock Up 5.5 %

NYSE:AEM traded up $6.18 on Friday, hitting $117.73. 7,646,636 shares of the company's stock were exchanged, compared to its average volume of 2,421,412. The firm has a 50-day moving average price of $101.63 and a 200-day moving average price of $89.82. Agnico Eagle Mines Limited has a 52 week low of $60.15 and a 52 week high of $118.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The company has a market cap of $59.25 billion, a P/E ratio of 31.14, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results 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%. As a group, analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. Agnico Eagle Mines's dividend payout ratio is presently 42.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AEM shares. National Bank Financial upgraded Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. Bank of America lifted their price target on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Jefferies Financial Group increased their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a "hold" rating in a research report on Tuesday, January 7th. 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 report on Friday, April 4th. Finally, TD Securities lowered their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $111.90.

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.