CWA Asset Management Group LLC Sells 13,639 Shares of Agnico Eagle Mines Limited $AEM

CWA Asset Management Group LLC lowered its stake in Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 21.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,676 shares of the mining company’s stock after selling 13,639 shares during the quarter. CWA Asset Management Group LLC’s holdings in Agnico Eagle Mines were worth $8,591,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Capital World Investors increased its position in Agnico Eagle Mines by 20.0% during the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after purchasing an additional 3,462,968 shares in the last quarter. Vanguard Group Inc. boosted its position in Agnico Eagle Mines by 1.2% in the third quarter. Vanguard Group Inc. now owns 20,669,949 shares of the mining company’s stock valued at $3,481,382,000 after buying an additional 252,043 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Agnico Eagle Mines by 5.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock worth $1,974,242,000 after buying an additional 602,489 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Agnico Eagle Mines by 1.5% during the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after buying an additional 143,645 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Agnico Eagle Mines by 1.9% during the second quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock worth $1,046,468,000 after buying an additional 160,650 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on AEM. Erste Group Bank raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, March 5th. Weiss Ratings cut Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Canadian Imperial Bank of Commerce set a $296.00 target price on Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Wall Street Zen raised Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. lowered their price objective on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $234.91.

Read Our Latest Report on Agnico Eagle Mines

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $179.12 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. Agnico Eagle Mines Limited has a fifty-two week low of $94.77 and a fifty-two week high of $255.24. The company has a 50 day simple moving average of $213.77 and a two-hundred day simple moving average of $182.89. The company has a market capitalization of $89.74 billion, a PE ratio of 20.17 and a beta of 0.61.

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

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 2nd. Agnico Eagle Mines’s payout ratio is currently 20.27%.

Key Agnico Eagle Mines News

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About Agnico Eagle Mines

(Free Report)

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.

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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