Atria Wealth Solutions Inc. Sells 7,373 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Atria Wealth Solutions Inc. lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Versant Capital Management Inc bought a new position in Agnico Eagle Mines in the 4th quarter worth about $26,000. Decker Retirement Planning Inc. purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth about $29,000. Fifth Third Bancorp increased its position in shares of Agnico Eagle Mines by 176.9% in the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after purchasing an additional 260 shares during the last quarter. Montag A & Associates Inc. raised its stake in Agnico Eagle Mines by 85.2% in the fourth quarter. Montag A & Associates Inc. now owns 500 shares of the mining company’s stock valued at $39,000 after purchasing an additional 230 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Agnico Eagle Mines during the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $98.01 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. Agnico Eagle Mines Limited has a one year low of $47.73 and a one year high of $101.45. The business’s 50 day simple moving average is $87.46 and its two-hundred day simple moving average is $83.76. The stock has a market capitalization of $49.29 billion, a P/E 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 earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Analysts forecast that Agnico Eagle Mines Limited will post 4.7 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed 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 annualized dividend 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 (DPR) is 42.33%.

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.