Altrinsic Global Advisors LLC Sells 252,526 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Altrinsic Global Advisors LLC trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 18.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,083,391 shares of the mining company's stock after selling 252,526 shares during the period. Agnico Eagle Mines makes up about 4.1% of Altrinsic Global Advisors LLC's portfolio, making the stock its 10th largest holding. Altrinsic Global Advisors LLC owned 0.22% of Agnico Eagle Mines worth $84,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in shares of Agnico Eagle Mines by 3.6% in the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company's stock worth $1,745,858,000 after buying an additional 778,919 shares during the period. Vanguard Group Inc. boosted its position in Agnico Eagle Mines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company's stock worth $1,554,180,000 after acquiring an additional 331,087 shares during the period. Capital World Investors grew its stake 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 acquiring an additional 4,121,164 shares in the last quarter. Norges Bank purchased a new position in Agnico Eagle Mines during the 4th quarter valued at about $573,446,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock worth $551,339,000 after purchasing an additional 3,155,927 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AEM. Stifel Canada raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. Royal Bank of Canada increased their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Citigroup upped their target price on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, March 31st. UBS Group lifted their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Finally, BMO Capital Markets initiated coverage on shares of Agnico Eagle Mines in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Agnico Eagle Mines currently has an average rating of "Buy" and a consensus price target of $124.40.

Agnico Eagle Mines Stock Performance

AEM traded down $0.87 during trading hours on Monday, reaching $117.64. The company's stock had a trading volume of 1,556,366 shares, compared to its average volume of 2,429,023. 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's 50-day moving average is $106.09 and its 200-day moving average is $92.67. Agnico Eagle Mines Limited has a 52 week low of $63.01 and a 52 week high of $126.76. The firm has a market cap of $59.20 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. 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 business earned $0.76 EPS. The company's quarterly revenue was up 34.9% compared to the same quarter last year. On average, equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS 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. Stockholders of record on Monday, December 1st will be paid 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 1.36%. Agnico Eagle Mines's payout ratio is 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.