Cetera Investment Advisers Lowers Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Cetera Investment Advisers trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,840 shares of the mining company’s stock after selling 2,453 shares during the period. Cetera Investment Advisers’ holdings in Agnico Eagle Mines were worth $2,568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp grew its position in Agnico Eagle Mines by 3.6% in 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 buying an additional 778,919 shares during the last quarter. Vanguard Group Inc. grew its position in Agnico Eagle Mines by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company’s stock valued at $1,554,180,000 after buying an additional 331,087 shares during the last quarter. Capital World Investors grew its position in Agnico Eagle Mines by 41.9% in the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock valued at $1,091,550,000 after buying an additional 4,121,164 shares during the last quarter. Norges Bank purchased a new position in Agnico Eagle Mines in the 4th quarter valued at $573,446,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Agnico Eagle Mines by 81.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock valued at $551,339,000 after buying an additional 3,155,927 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. BMO Capital Markets started coverage on shares of Agnico Eagle Mines in a research report on Wednesday, April 16th. They issued an “outperform” rating and a $181.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. StockNews.com lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Bank of America boosted their target price on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, April 8th. Finally, Scotiabank restated an “outperform” rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Agnico Eagle Mines has an average rating of “Buy” and an average price target of $124.40.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $106.39 on Friday. Agnico Eagle Mines Limited has a 52 week low of $63.01 and a 52 week high of $126.76. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $110.63 and its 200 day simple moving average is $95.47. The firm has a market capitalization of $53.54 billion, a PE ratio of 28.15, a P/E/G ratio of 0.66 and a beta of 0.54.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. On average, equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.60 annualized dividend and a dividend yield of 1.50%. Agnico Eagle Mines’s dividend payout ratio is presently 34.04%.

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.