Condire Management LP Reduces Position in Agnico Eagle Mines Limited (NYSE:AEM)

Condire Management LP trimmed its position in shares of 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 fund 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 portfolio, making the stock its 8th largest holding. Condire Management LP owned about 0.08% of Agnico Eagle Mines worth $31,284,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth about $26,000. Smartleaf Asset Management LLC raised its stake in 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 in the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at $29,000. Fifth Third Bancorp raised its stake in 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. lifted its position in 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 in the last quarter. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock traded down $11.55 during midday trading on Monday, reaching $105.78. 4,520,210 shares of the company's stock were exchanged, compared to its average volume of 2,478,376. The firm has a market cap of $53.23 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 0.66 and a beta of 0.54. 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 Limited has a 52 week low of $63.01 and a 52 week high of $126.76. The stock's 50-day simple moving average is $109.90 and its 200 day simple moving average is $94.88.

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

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.40 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.60 annualized dividend and a dividend yield of 1.51%. Agnico Eagle Mines's payout ratio is currently 34.04%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Royal Bank of Canada boosted their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Stifel Canada raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. TD Securities lowered their price objective on shares of 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. Finally, UBS Group upped their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of "Buy" and an average price target of $124.40.

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.