Agnico Eagle Mines (NYSE:AEM) Stock Price Down 1.8% - Should You Sell?

Key Points

• Shares fell 1.8% intraday to about $222.75 with trading volume ~37% below average, and analysts overall rate the stock a "Buy" with an average price target of $234.91 despite mixed individual revisions.
• The company beat Q4 estimates (EPS $2.69 vs $2.56; revenue $3.53B vs $3.40B, revenue +60.3% YoY) and raised its quarterly dividend to $0.45 (annualized $1.80, ~0.8% yield), signaling strong operating results and shareholder returns.

Shares of Agnico Eagle Mines Limited (NYSE:AEM - Get Free Report) TSE: AEM dropped 1.8% during mid-day trading on Wednesday . The stock traded as low as $216.68 and last traded at $222.75. Approximately 1,753,016 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 2,800,905 shares. The stock had previously closed at $226.94.

Analyst Ratings Changes

Several research firms have weighed in on AEM. JPMorgan Chase & Co. cut their price objective on Agnico Eagle Mines from $248.00 to $235.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 18th. Citigroup raised their target price on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a "buy" rating in a research report on Thursday, January 15th. TD Securities lifted their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Scotiabank restated an "outperform" rating and set a $280.00 price target on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce set a $296.00 price objective on shares of Agnico Eagle Mines and gave the stock an "outperform" rating in a report on Wednesday, February 4th. Four investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $234.91.

Agnico Eagle Mines Trading Down 1.8%

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33. The firm has a fifty day simple moving average of $209.71 and a two-hundred day simple moving average of $179.94. The firm has a market capitalization of $111.60 billion, a P/E ratio of 25.08 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.13. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The business's revenue was up 60.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. On average, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.45 per share. This is a boost from Agnico Eagle Mines's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, March 2nd. Agnico Eagle Mines's dividend payout ratio (DPR) is 20.27%.

Hedge Funds Weigh In On Agnico Eagle Mines

Several large investors have recently modified their holdings of AEM. Corient Private Wealth LLC lifted its stake in shares of Agnico Eagle Mines by 3.3% during the 4th quarter. Corient Private Wealth LLC now owns 45,515 shares of the mining company's stock valued at $7,716,000 after buying an additional 1,454 shares in the last quarter. Auto Owners Insurance Co grew its stake in Agnico Eagle Mines by 16,853.0% in the 4th quarter. Auto Owners Insurance Co now owns 915,462 shares of the mining company's stock valued at $15,520,000 after buying an additional 910,062 shares in the last quarter. Pure Financial Advisors LLC raised its holdings in Agnico Eagle Mines by 32.9% during the 4th quarter. Pure Financial Advisors LLC now owns 2,110 shares of the mining company's stock valued at $358,000 after acquiring an additional 522 shares during the period. Employees Provident Fund Board bought a new stake in Agnico Eagle Mines during the 4th quarter valued at $183,341,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Agnico Eagle Mines during the fourth quarter worth $953,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited NYSE: AEM is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

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