Scotia Capital Inc. Decreases Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Scotia Capital Inc. cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 382,229 shares of the mining company’s stock after selling 50,841 shares during the period. Scotia Capital Inc. owned about 0.08% of Agnico Eagle Mines worth $29,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in AEM. Versant Capital Management Inc acquired a new stake in Agnico Eagle Mines in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC grew its stake in Agnico Eagle Mines by 859.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in shares of Agnico Eagle Mines during the fourth quarter valued at about $29,000. Fifth Third Bancorp boosted its position in Agnico Eagle Mines by 176.9% in the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after buying an additional 260 shares during the last quarter. Finally, Duncker Streett & Co. Inc. lifted its stake 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 buying an additional 112 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AEM has been the topic of several analyst reports. UBS Group lowered Agnico Eagle Mines from a “buy” rating to a “neutral” rating and increased their target price for the stock from $100.00 to $110.00 in a report on Monday, March 31st. Stifel Canada raised Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. StockNews.com cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Scotiabank raised their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $111.40.

Agnico Eagle Mines Trading Up 5.6 %

NYSE:AEM opened at $105.75 on Thursday. The stock has a market cap of $53.19 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. Agnico Eagle Mines Limited has a one year low of $60.15 and a one year high of $111.04. The business’s 50-day simple moving average is $100.85 and its 200 day simple moving average is $89.36.

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

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 dividend on an annualized basis and a yield of 1.51%. Agnico Eagle Mines’s payout ratio is presently 42.33%.

Agnico Eagle Mines Company 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.