Steward Partners Investment Advisory LLC Sells 8,501 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Steward Partners Investment Advisory LLC reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 24.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,612 shares of the mining company’s stock after selling 8,501 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Agnico Eagle Mines were worth $2,003,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AEM. FMR LLC increased its position in Agnico Eagle Mines by 43.5% during the 3rd quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock valued at $1,213,311,000 after purchasing an additional 4,562,005 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Agnico Eagle Mines by 16.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,892,898 shares of the mining company’s stock valued at $474,660,000 after purchasing an additional 817,240 shares during the period. Van ECK Associates Corp increased its position in Agnico Eagle Mines by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after purchasing an additional 778,919 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Agnico Eagle Mines by 262.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,060,402 shares of the mining company’s stock valued at $85,413,000 after purchasing an additional 767,912 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Agnico Eagle Mines by 17.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,051,140 shares of the mining company’s stock valued at $326,571,000 after purchasing an additional 591,178 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $98.85 on Friday. Agnico Eagle Mines Limited has a one year low of $54.02 and a one year high of $101.45. The company’s 50-day moving average is $91.32 and its 200 day moving average is $85.38. The company has a market capitalization of $49.71 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00. 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 (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data 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 net margin of 22.88% and a return on equity of 10.45%. Sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 yield of 1.62%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TD Securities reduced their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Jefferies Financial Group upped 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 report on Tuesday, January 7th. StockNews.com downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. 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. Finally, Scotiabank upped their target price on shares of 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus target price of $95.78.

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.