Moran Wealth Management LLC Sells 1,558 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Moran Wealth Management LLC trimmed its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,039 shares of the mining company’s stock after selling 1,558 shares during the period. Moran Wealth Management LLC’s holdings in Agnico Eagle Mines were worth $1,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEM. Van ECK Associates Corp boosted its holdings 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 acquiring an additional 778,919 shares during the period. FMR LLC lifted its position in Agnico Eagle Mines by 43.5% in the third 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 last quarter. CIBC Asset Management Inc lifted its position in Agnico Eagle Mines by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock valued at $499,956,000 after purchasing an additional 332,576 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Agnico Eagle Mines by 16.1% during the third 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. Finally, National Bank of Canada FI grew its holdings in shares of Agnico Eagle Mines by 7.4% in the third quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock worth $334,749,000 after purchasing an additional 285,565 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. TD Securities dropped their target price on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada boosted their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Raymond James set a $105.00 price target on Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group lifted their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.78.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $100.54 on Wednesday. Agnico Eagle Mines Limited has a fifty-two week low of $54.02 and a fifty-two week high of $101.81. The stock has a market cap of $50.56 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 0.66 and a beta of 1.00. The stock’s 50 day simple moving average is $92.15 and its two-hundred day simple moving average is $85.63. 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 released its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share 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%. As a group, analysts expect 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 declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.59%. Agnico Eagle Mines’s payout ratio is 42.33%.

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.