FIL Ltd Cuts Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

FIL Ltd reduced its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,174,602 shares of the mining company's stock after selling 984,240 shares during the period. Agnico Eagle Mines makes up about 1.3% of FIL Ltd's investment portfolio, making the stock its 8th biggest position. FIL Ltd owned approximately 3.62% of Agnico Eagle Mines worth $1,421,885,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Employees Retirement System of Texas increased its holdings in Agnico Eagle Mines by 2.1% during the fourth quarter. Employees Retirement System of Texas now owns 84,041 shares of the mining company's stock valued at $65,730,000 after buying an additional 1,690 shares during the last quarter. Polymer Capital Management US LLC bought a new position in Agnico Eagle Mines in the 4th quarter worth $493,000. Trek Financial LLC lifted its position in Agnico Eagle Mines by 30.3% during the fourth quarter. Trek Financial LLC now owns 42,176 shares of the mining company's stock valued at $3,299,000 after purchasing an additional 9,813 shares in the last quarter. Prospector Partners LLC grew its holdings in Agnico Eagle Mines by 0.9% during the fourth quarter. Prospector Partners LLC now owns 59,544 shares of the mining company's stock valued at $4,657,000 after purchasing an additional 512 shares during the period. Finally, Ruggaard & Associates LLC increased its position in Agnico Eagle Mines by 2.7% in the fourth quarter. Ruggaard & Associates LLC now owns 13,463 shares of the mining company's stock worth $1,053,000 after buying an additional 351 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

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Analyst Ratings Changes

A number of research analysts recently issued reports on AEM shares. Jefferies Financial Group boosted 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. Scotiabank upped their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, January 21st. TD Securities reduced their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. StockNews.com cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Finally, Citigroup increased their price target on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Agnico Eagle Mines has a consensus rating of "Buy" and an average price target of $111.90.

Agnico Eagle Mines Price Performance

Shares of AEM stock traded up $6.18 on Friday, reaching $117.73. The company's stock had a trading volume of 7,646,636 shares, compared to its average volume of 2,421,412. The stock's fifty day simple moving average is $101.63 and its 200-day simple moving average is $89.82. Agnico Eagle Mines Limited has a 1 year low of $60.15 and a 1 year high of $118.74. The company has a market capitalization of $59.25 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth 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 (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. Analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

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