Cannell & Spears LLC Sells 4,700 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Cannell & Spears LLC cut its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 534,581 shares of the mining company’s stock after selling 4,700 shares during the period. Cannell & Spears LLC’s holdings in Agnico Eagle Mines were worth $41,810,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in Agnico Eagle Mines by 78.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company’s stock valued at $255,000 after buying an additional 1,431 shares during the last quarter. Caldwell Investment Management Ltd. increased its position in Agnico Eagle Mines by 12.0% in 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 raised its stake 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 valued at $15,256,000 after acquiring an additional 16,000 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Agnico Eagle Mines by 14.8% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock worth $18,223,000 after purchasing an additional 29,106 shares during the period. Finally, Geode Capital Management LLC grew its stake 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 purchasing an additional 178,999 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Down 0.5 %

Shares of NYSE AEM opened at $107.34 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The firm has a market cap of $53.99 billion, a PE ratio of 28.40, a P/E/G ratio of 0.66 and a beta of 1.00. The company’s fifty day simple moving average is $97.96 and its 200 day simple moving average is $87.91. Agnico Eagle Mines Limited has a 12-month low of $60.15 and a 12-month high of $110.36.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data 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 return on equity of 10.45% and a net margin of 22.88%. As a group, sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.49%. Agnico Eagle Mines’s dividend payout ratio is 42.33%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AEM. TD Securities cut their target price 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 objective on Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Scotiabank increased their target price on shares of 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. Royal Bank of Canada boosted their price target on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Finally, Stifel Canada upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “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.