Agnico Eagle Mines Limited (NYSE:AEM) Short Interest Up 22.4% in February

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 6,400,000 shares, an increase of 22.4% from the February 13th total of 5,230,000 shares. Based on an average daily volume of 2,110,000 shares, the short-interest ratio is presently 3.0 days. Approximately 1.3% of the company’s stock are sold short.

Hedge Funds Weigh In On Agnico Eagle Mines

A number of large investors have recently made changes to their positions in the business. Versant Capital Management Inc purchased a new position in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its holdings in shares of Agnico Eagle Mines by 859.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after buying an additional 318 shares during the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $29,000. Fifth Third Bancorp grew its holdings in shares of Agnico Eagle Mines by 176.9% during the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock valued at $32,000 after buying an additional 260 shares during the last quarter. Finally, Duncker Streett & Co. Inc. increased its position in shares of Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock valued at $32,000 after acquiring an additional 112 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Trading Up 0.5 %

Agnico Eagle Mines stock traded up $0.55 during mid-day trading on Tuesday, hitting $105.83. The company’s stock had a trading volume of 2,751,908 shares, compared to its average volume of 2,336,461. The stock has a market cap of $53.23 billion, a PE ratio of 28.00, a P/E/G ratio of 0.66 and a beta of 1.00. Agnico Eagle Mines has a one year low of $54.02 and a one year high of $107.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The company has a 50 day moving average of $94.49 and a 200-day moving average of $86.40.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results 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%. On average, research analysts anticipate that Agnico Eagle Mines will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.60 annualized dividend and a yield of 1.51%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AEM. TD Securities lowered their target price on 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. Raymond James set a $105.00 target price on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Scotiabank raised 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 note on Tuesday, January 21st. Royal Bank of Canada lifted their target price on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group increased 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock 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.