Louisbourg Investments Inc. Sells 25,290 Shares of Agnico Eagle Mines Limited $AEM

Louisbourg Investments Inc. decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 94.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,435 shares of the mining company’s stock after selling 25,290 shares during the period. Louisbourg Investments Inc.’s holdings in Agnico Eagle Mines were worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. TD Waterhouse Canada Inc. raised its holdings in shares of Agnico Eagle Mines by 13.4% during the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock valued at $192,951,000 after purchasing an additional 134,147 shares during the period. Ninety One UK Ltd increased its position in Agnico Eagle Mines by 386.5% in the 3rd quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock valued at $31,703,000 after buying an additional 149,506 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in Agnico Eagle Mines by 1,560.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after buying an additional 45,746 shares during the period. AustralianSuper Pty Ltd bought a new position in Agnico Eagle Mines in the third quarter worth approximately $23,958,000. Finally, TD Asset Management Inc grew its stake in Agnico Eagle Mines by 1.5% in the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock valued at $1,600,436,000 after acquiring an additional 143,645 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Down 0.7%

AEM stock opened at $208.52 on Friday. The stock has a market cap of $104.48 billion, a P/E ratio of 23.48 and a beta of 0.71. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $212.55 and its two-hundred day simple moving average is $185.59. Agnico Eagle Mines Limited has a 1-year low of $94.77 and a 1-year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.13. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The business’s revenue for the quarter was up 60.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.26 EPS. Analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.45 dividend. The ex-dividend date was Monday, March 2nd. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. Agnico Eagle Mines’s dividend payout ratio is presently 20.27%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AEM shares. Citigroup upped their target price on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Erste Group Bank lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. JPMorgan Chase & Co. decreased their target price on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Raymond James Financial restated an “outperform” rating and issued a $225.00 target price on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $185.00 to $205.00 in a report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $232.18.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.