Shorepoint Capital Partners LLC Sells 6,581 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Shorepoint Capital Partners LLC lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,613 shares of the mining company’s stock after selling 6,581 shares during the quarter. Agnico Eagle Mines makes up about 2.0% of Shorepoint Capital Partners LLC’s holdings, making the stock its 10th largest holding. Shorepoint Capital Partners LLC’s holdings in Agnico Eagle Mines were worth $8,573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Agnico Eagle Mines during the fourth quarter worth approximately $573,446,000. Capital World Investors lifted its stake in shares of Agnico Eagle Mines by 41.9% in the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock valued at $1,091,550,000 after purchasing an additional 4,121,164 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Agnico Eagle Mines by 81.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after purchasing an additional 3,155,927 shares during the period. AGF Management Ltd. increased its position in shares of Agnico Eagle Mines by 184.6% during the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock worth $109,205,000 after purchasing an additional 905,328 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Agnico Eagle Mines by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after buying an additional 778,919 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

AEM has been the subject of several research reports. Royal Bank of Canada lifted their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, April 4th. StockNews.com downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. 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. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Bank of America lifted their price objective on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $124.40.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $118.68 on Friday. The firm has a fifty day moving average of $106.09 and a 200-day moving average of $92.58. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52-week low of $63.01 and a 52-week high of $126.76. The firm has a market capitalization of $59.73 billion, a P/E ratio of 31.40, a PEG ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.14. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.27 billion. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. As a group, analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Monday, December 1st. Agnico Eagle Mines’s payout ratio is 42.33%.

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.