Agnico Eagle Mines Limited (NYSE:AEM) Sees Significant Growth in Short Interest

Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 8,020,000 shares, an increase of 21.1% from the March 31st total of 6,620,000 shares. Currently, 1.6% of the company's stock are sold short. Based on an average daily volume of 3,250,000 shares, the short-interest ratio is presently 2.5 days.

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock traded down $1.47 during midday trading on Friday, hitting $111.09. 4,221,079 shares of the company were exchanged, compared to its average volume of 2,451,927. Agnico Eagle Mines has a fifty-two week low of $63.01 and a fifty-two week high of $126.76. The firm has a market capitalization of $55.91 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54. The business has a fifty day simple moving average of $107.88 and a two-hundred day simple moving average of $93.70. 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 (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.27 billion. During the same quarter last year, the company earned $0.76 EPS. The firm's revenue for the quarter was up 34.9% compared to the same quarter last year. On average, sell-side analysts forecast that Agnico Eagle Mines will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a yield of 1.44%. Agnico Eagle Mines's payout ratio is presently 34.04%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AEM. TD Securities reduced 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. Citigroup upped 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. Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, April 25th. Scotiabank restated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Finally, National Bank Financial raised shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines has a consensus rating of "Buy" and an average target price of $124.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its position in Agnico Eagle Mines by 78.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company's stock valued at $255,000 after purchasing an additional 1,431 shares during the last quarter. Caldwell Investment Management Ltd. increased its position in shares of Agnico Eagle Mines by 12.0% in the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company's stock valued at $6,812,000 after buying an additional 9,400 shares in the last quarter. Forsta AP Fonden lifted its holdings in shares of Agnico Eagle Mines by 8.9% in the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company's stock valued at $15,256,000 after purchasing an additional 16,000 shares in the last quarter. Resonant Capital Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the 4th quarter worth approximately $208,000. Finally, US Bancorp DE raised its position in shares of Agnico Eagle Mines by 2.7% during the 4th quarter. US Bancorp DE now owns 6,770 shares of the mining company's stock worth $529,000 after purchasing an additional 175 shares during the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.