Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Cadence Wealth Management LLC

Cadence Wealth Management LLC trimmed its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 98.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,115 shares of the mining company’s stock after selling 1,254,272 shares during the quarter. Agnico Eagle Mines makes up 0.7% of Cadence Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. Cadence Wealth Management LLC’s holdings in Agnico Eagle Mines were worth $884,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blair William & Co. IL grew its position in shares of Agnico Eagle Mines by 5.9% in the third quarter. Blair William & Co. IL now owns 23,718 shares of the mining company’s stock valued at $1,078,000 after purchasing an additional 1,313 shares during the period. Raymond James & Associates grew its position in shares of Agnico Eagle Mines by 15.5% in the fourth quarter. Raymond James & Associates now owns 364,440 shares of the mining company’s stock valued at $19,990,000 after purchasing an additional 48,782 shares during the period. Wellington Management Group LLP grew its position in shares of Agnico Eagle Mines by 5.7% in the third quarter. Wellington Management Group LLP now owns 632,403 shares of the mining company’s stock valued at $28,752,000 after purchasing an additional 34,072 shares during the period. ANTIPODES PARTNERS Ltd purchased a new stake in Agnico Eagle Mines during the fourth quarter valued at about $41,610,000. Finally, Sprott Inc. grew its position in Agnico Eagle Mines by 4.1% during the third quarter. Sprott Inc. now owns 1,412,300 shares of the mining company’s stock valued at $65,249,000 after acquiring an additional 55,032 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE:AEM traded up $0.58 during trading hours on Friday, reaching $65.52. 5,018,392 shares of the stock were exchanged, compared to its average volume of 3,718,966. The company has a quick ratio of 0.74, a current ratio of 2.09 and a debt-to-equity ratio of 0.10. The firm has a 50 day simple moving average of $56.90 and a 200-day simple moving average of $52.67. Agnico Eagle Mines Limited has a 52 week low of $43.22 and a 52 week high of $67.80. The stock has a market capitalization of $32.67 billion, a P/E ratio of 68.97, a P/E/G ratio of 0.92 and a beta of 1.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.16. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.08% and a net margin of 6.79%. The business’s revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. As a group, sell-side analysts forecast that Agnico Eagle Mines Limited will post 2.77 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio is currently 168.42%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AEM. Jefferies Financial Group boosted their price target on Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Raymond James upped their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. CIBC decreased their target price on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. TD Securities decreased their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.14.

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.