Te Ahumairangi Investment Management Ltd Trims Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Te Ahumairangi Investment Management Ltd lowered its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,442 shares of the mining company's stock after selling 4,019 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in Agnico Eagle Mines were worth $4,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Groupama Asset Managment grew its stake in Agnico Eagle Mines by 22.5% in the 4th quarter. Groupama Asset Managment now owns 1,034,781 shares of the mining company's stock worth $80,570,000 after acquiring an additional 190,314 shares in the last quarter. May Hill Capital LLC bought a new position in Agnico Eagle Mines in the fourth quarter worth approximately $249,000. Headlands Technologies LLC increased its holdings in Agnico Eagle Mines by 12.4% during the 4th quarter. Headlands Technologies LLC now owns 1,529 shares of the mining company's stock worth $120,000 after purchasing an additional 169 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Agnico Eagle Mines by 33.2% in the 4th quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company's stock worth $239,844,000 after buying an additional 749,932 shares during the period. Finally, Paragon Associates & Paragon Associates II Joint Venture grew its position in shares of Agnico Eagle Mines by 19.0% during the 4th quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 125,000 shares of the mining company's stock worth $9,776,000 after buying an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company's stock.

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Agnico Eagle Mines Stock Performance

AEM stock traded down $9.04 during trading on Friday, reaching $99.45. The company had a trading volume of 7,707,968 shares, compared to its average volume of 2,361,688. The company has a market cap of $50.02 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87. Agnico Eagle Mines Limited has a twelve month low of $60.15 and a twelve month high of $111.04. 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 50-day simple moving average of $99.77 and a 200-day simple moving average of $88.71.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share 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%. As a group, sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, February 28th. Agnico Eagle Mines's dividend payout ratio is presently 42.33%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AEM shares. Jefferies Financial Group upped 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 note on Tuesday, January 7th. Citigroup increased their price objective on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, March 31st. National Bank Financial raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, March 21st. Scotiabank increased their target price on 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. Finally, Stifel Canada upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $108.00.

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.