Oppenheimer & Close LLC Trims Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Oppenheimer & Close LLC reduced its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.3% during the fourth quarter, Holdings Channel reports. The fund owned 87,343 shares of the mining company’s stock after selling 10,031 shares during the period. Agnico Eagle Mines comprises about 5.6% of Oppenheimer & Close LLC’s investment portfolio, making the stock its 2nd biggest position. Oppenheimer & Close LLC’s holdings in Agnico Eagle Mines were worth $6,831,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AEM. Duncker Streett & Co. Inc. boosted its stake in shares of Agnico Eagle Mines by 37.3% during the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after purchasing an additional 112 shares during the period. Pinnacle Wealth Management Group Inc. boosted its stake in shares of Agnico Eagle Mines by 0.5% during the fourth quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock valued at $1,909,000 after purchasing an additional 125 shares during the period. Diversify Wealth Management LLC boosted its stake in shares of Agnico Eagle Mines by 2.1% during the fourth quarter. Diversify Wealth Management LLC now owns 6,753 shares of the mining company’s stock valued at $569,000 after purchasing an additional 141 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Agnico Eagle Mines by 34.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the mining company’s stock valued at $51,000 after purchasing an additional 165 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in shares of Agnico Eagle Mines by 3.6% during the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 4,976 shares of the mining company’s stock valued at $389,000 after purchasing an additional 171 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $104.33 on Friday. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $52.48 billion, a P/E ratio of 27.60, a P/E/G ratio of 0.66 and a beta of 1.00. The business has a fifty day simple moving average of $95.77 and a two-hundred day simple moving average of $86.88. Agnico Eagle Mines Limited has a 12 month low of $55.98 and a 12 month high of $107.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued 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%. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.53%. Agnico Eagle Mines’s payout ratio is presently 42.33%.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price target on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. Scotiabank raised their price target on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. TD Securities dropped their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Stifel Canada raised Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday. Finally, Raymond James set a $105.00 price target on Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target 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.