Plato Investment Management Ltd Has $1.96 Million Stake in Agnico Eagle Mines Limited $AEM

Plato Investment Management Ltd trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 40.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,510 shares of the mining company’s stock after selling 7,979 shares during the period. Plato Investment Management Ltd’s holdings in Agnico Eagle Mines were worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. MCF Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the third quarter valued at $34,000. Abound Wealth Management raised its stake in shares of Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock valued at $35,000 after purchasing an additional 104 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines in the fourth quarter valued at $35,000. Caitlin John LLC acquired a new position in shares of Agnico Eagle Mines in the third quarter valued at $36,000. Finally, Bangor Savings Bank acquired a new position in shares of Agnico Eagle Mines in the fourth quarter valued at $37,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $193.34 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 2.18. The stock has a fifty day moving average price of $208.63 and a two-hundred day moving average price of $192.16. Agnico Eagle Mines Limited has a 52-week low of $103.38 and a 52-week high of $255.24. The firm has a market capitalization of $96.77 billion, a P/E ratio of 18.17, a P/E/G ratio of 4.23 and a beta of 0.58.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the company posted $1.53 earnings per share. The business’s revenue for the quarter was up 66.1% compared to the same quarter last year. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 13.09 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, June 1st. Agnico Eagle Mines’s dividend payout ratio is presently 16.92%.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of recent research reports. Raymond James Financial restated an “outperform” rating and issued a $225.00 target price on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Citigroup upped their target price on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce cut their target price on Agnico Eagle Mines from $312.00 to $304.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Finally, Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $238.18.

About Agnico Eagle Mines

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.