Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 17.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 516,665 shares of the mining company’s stock after selling 112,383 shares during the quarter. Clearbridge Investments LLC owned 0.10% of Agnico Eagle Mines worth $40,408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Duncker Streett & Co. Inc. boosted its holdings in Agnico Eagle Mines by 37.3% in the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after purchasing an additional 112 shares during the period. Pinnacle Wealth Management Group Inc. raised its position in Agnico Eagle Mines by 0.5% in the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock valued at $1,909,000 after purchasing an additional 125 shares in the last quarter. Diversify Wealth Management LLC boosted its stake in shares of Agnico Eagle Mines by 2.1% in the 4th quarter. Diversify Wealth Management LLC now owns 6,753 shares of the mining company’s stock valued at $569,000 after buying an additional 141 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of Agnico Eagle Mines by 34.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the mining company’s stock worth $51,000 after buying an additional 165 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its stake in shares of Agnico Eagle Mines by 3.6% during the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 4,976 shares of the mining company’s stock worth $389,000 after buying an additional 171 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $108.14 on Wednesday. The stock has a market cap of $54.40 billion, a P/E ratio of 28.61, a P/E/G ratio of 0.66 and a beta of 1.00. Agnico Eagle Mines Limited has a twelve month low of $60.15 and a twelve month high of $110.36. The stock has a 50 day moving average of $98.82 and a two-hundred day moving average of $88.27. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. On average, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Analyst Ratings Changes

Several research firms have commented on AEM. National Bank Financial upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Jefferies Financial Group boosted their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. Stifel Canada raised Agnico Eagle Mines to a “strong-buy” rating in a report on Wednesday, March 19th. Royal Bank of Canada lifted their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, Raymond James set a $105.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $104.11.

Agnico Eagle Mines 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.