Agnico Eagle Mines Limited (NYSE:AEM) is Condire Management LP's 8th Largest Position

Condire Management LP reduced its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 26.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400,000 shares of the mining company's stock after selling 146,405 shares during the quarter. Agnico Eagle Mines accounts for approximately 4.5% of Condire Management LP's holdings, making the stock its 8th biggest holding. Condire Management LP owned approximately 0.08% of Agnico Eagle Mines worth $31,284,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $573,446,000. Capital World Investors raised its position in Agnico Eagle Mines by 41.9% during 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 purchasing an additional 4,121,164 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 worth $551,339,000 after buying an additional 3,155,927 shares during the period. AGF Management Ltd. grew its position in shares of Agnico Eagle Mines by 184.6% during the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company's stock worth $109,205,000 after buying an additional 905,328 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Agnico Eagle Mines by 3.6% during the fourth 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 period. Institutional investors own 68.34% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AEM. Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a "hold" rating in a research note on Tuesday, January 7th. Citigroup lifted their price objective on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a report on Monday, March 31st. Bank of America boosted their price objective on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. UBS Group increased their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Finally, Cfra Research raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $124.40.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $119.28 on Wednesday. The company has a 50 day moving average price of $108.68 and a 200 day moving average price of $94.24. The firm has a market capitalization of $60.03 billion, a P/E ratio of 31.56, a PEG ratio of 0.66 and a beta of 0.54. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52 week low of $63.01 and a 52 week high of $126.76.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.14. The business had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.27 billion. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The business's quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter last year, the company posted $0.76 earnings per share. Sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, December 1st. This represents a $1.60 annualized dividend and a yield of 1.34%. Agnico Eagle Mines's payout ratio is presently 34.04%.

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.

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