Waratah Capital Advisors Ltd. Reduces Position in Agnico Eagle Mines Limited $AEM

Waratah Capital Advisors Ltd. trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 37.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,852 shares of the mining company’s stock after selling 102,023 shares during the quarter. Agnico Eagle Mines accounts for approximately 0.5% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 21st biggest holding. Waratah Capital Advisors Ltd.’s holdings in Agnico Eagle Mines were worth $28,125,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC raised its stake in shares of Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Agnico Eagle Mines during the 2nd quarter valued at about $29,000. Blue Bell Private Wealth Management LLC raised its position in Agnico Eagle Mines by 59.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. MCF Advisors LLC purchased a new stake in Agnico Eagle Mines in the 3rd quarter worth approximately $34,000. Finally, Addison Advisors LLC grew its position in shares of Agnico Eagle Mines by 94.1% in the 3rd quarter. Addison Advisors LLC now owns 229 shares of the mining company’s stock worth $39,000 after buying an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

AEM opened at $244.14 on Wednesday. The firm has a market cap of $122.32 billion, a PE ratio of 27.49, a P/E/G ratio of 0.56 and a beta of 0.63. The stock has a 50-day moving average price of $197.90 and a 200-day moving average price of $172.84. Agnico Eagle Mines Limited has a 1 year low of $92.11 and a 1 year high of $245.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33.

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

Agnico Eagle Mines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. Agnico Eagle Mines’s dividend payout ratio is currently 18.02%.

Analyst Upgrades and Downgrades

AEM has been the topic of several recent analyst reports. Wall Street Zen cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 31st. Jefferies Financial Group set a $189.00 price target on shares of Agnico Eagle Mines in a research report on Sunday, December 7th. UBS Group restated a “neutral” rating and issued a $240.00 price objective on shares of Agnico Eagle Mines in a report on Friday, January 30th. Royal Bank Of Canada cut Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $185.00 to $205.00 in a research report on Wednesday, December 10th. Finally, Erste Group Bank lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.91.

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.