Louisbourg Investments Inc. Sells 25,290 Shares of Agnico Eagle Mines Limited $AEM

Louisbourg Investments Inc. reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 94.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,435 shares of the mining company’s stock after selling 25,290 shares during the quarter. Louisbourg Investments Inc.’s holdings in Agnico Eagle Mines were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in AEM. Vanguard Capital Wealth Advisors bought a new stake in Agnico Eagle Mines in the 4th quarter valued at about $357,000. Blue Trust Inc. lifted its holdings in Agnico Eagle Mines by 2.5% during the fourth quarter. Blue Trust Inc. now owns 3,540 shares of the mining company’s stock valued at $600,000 after purchasing an additional 86 shares during the last quarter. Bangor Savings Bank bought a new position in Agnico Eagle Mines during the fourth quarter worth about $37,000. TB Alternative Assets Ltd. increased its stake in shares of Agnico Eagle Mines by 34.2% in the fourth quarter. TB Alternative Assets Ltd. now owns 229,630 shares of the mining company’s stock worth $38,929,000 after purchasing an additional 58,490 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC purchased a new position in shares of Agnico Eagle Mines in the fourth quarter worth about $239,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE:AEM opened at $208.52 on Friday. The stock has a market cap of $104.48 billion, a P/E ratio of 23.48 and a beta of 0.71. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $212.55 and its two-hundred day moving average price is $185.59. Agnico Eagle Mines Limited has a twelve month low of $94.77 and a twelve month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.13. The company had revenue of $3.53 billion for 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%. Agnico Eagle Mines’s revenue for the quarter was up 60.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 earnings per share. As a group, equities analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio is presently 20.27%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AEM. Erste Group Bank cut shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Wall Street Zen upgraded shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Citigroup boosted their target price on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. Finally, Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $232.18.

About Agnico Eagle Mines

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.