Norden Group LLC Reduces Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Norden Group LLC decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,908 shares of the mining company’s stock after selling 204 shares during the quarter. Norden Group LLC’s holdings in Agnico Eagle Mines were worth $1,792,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. 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 grew its holdings in shares of Agnico Eagle Mines by 859.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Decker Retirement Planning Inc. purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth about $29,000. Fifth Third Bancorp grew its holdings in shares of 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 purchasing an additional 260 shares during the last quarter. Finally, Duncker Streett & Co. Inc. grew its holdings in shares of Agnico Eagle Mines by 37.3% during the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $96.43 on Friday. Agnico Eagle Mines Limited has a twelve month low of $47.73 and a twelve month high of $101.45. The stock’s 50 day moving average is $89.44 and its two-hundred day moving average is $84.75. The firm has a market capitalization of $48.50 billion, a PE ratio of 25.51, a P/E/G ratio of 0.66 and a beta of 1.10. 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) (TSE:AEM) last posted its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share (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%. Research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.66%. Agnico Eagle Mines’s payout ratio is 42.33%.

Analysts Set New Price Targets

A number of research firms recently issued reports on AEM. TD Securities lowered their price target 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. Raymond James set a $105.00 price target on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. StockNews.com lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada raised their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Agnico Eagle Mines Company 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.