Atria Wealth Solutions Inc. Reduces Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Atria Wealth Solutions Inc. reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.5% during the fourth quarter, Holdings Channel reports. The firm owned 56,925 shares of the mining company’s stock after selling 7,373 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Agnico Eagle Mines were worth $4,452,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. D.A. Davidson & CO. raised its position in shares of Agnico Eagle Mines by 11.8% in the 4th quarter. D.A. Davidson & CO. now owns 13,676 shares of the mining company’s stock worth $1,070,000 after acquiring an additional 1,440 shares in the last quarter. CIBC Asset Management Inc grew its stake in Agnico Eagle Mines by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock worth $499,956,000 after purchasing an additional 332,576 shares during the period. Allworth Financial LP raised its holdings in Agnico Eagle Mines by 10.8% in the fourth quarter. Allworth Financial LP now owns 3,376 shares of the mining company’s stock worth $264,000 after purchasing an additional 330 shares in the last quarter. Montag A & Associates Inc. lifted its position in Agnico Eagle Mines by 85.2% during the fourth quarter. Montag A & Associates Inc. now owns 500 shares of the mining company’s stock valued at $39,000 after buying an additional 230 shares during the period. Finally, Guyasuta Investment Advisors Inc. boosted its holdings in shares of Agnico Eagle Mines by 7.4% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 3,620 shares of the mining company’s stock valued at $283,000 after buying an additional 250 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $98.01 on Friday. 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 twelve month low of $47.73 and a twelve month high of $101.45. The company’s 50-day moving average price is $87.46 and its 200-day moving average price is $83.76. The company has a market cap of $49.29 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 0.65 and a beta of 1.10.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued 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 return on equity of 10.45% and a net margin of 22.88%. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.7 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com upgraded shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research note on Monday. Royal Bank of Canada raised their target price on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Jefferies Financial Group boosted their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. Scotiabank upped their price target on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, TD Securities lowered their price objective on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $94.63.

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.