Driehaus Capital Management LLC reduced its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 48.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,900 shares of the mining company's stock after selling 4,600 shares during the period. Driehaus Capital Management LLC's holdings in Agnico Eagle Mines were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Agnico Eagle Mines by 0.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 837,742 shares of the mining company's stock valued at $65,520,000 after acquiring an additional 2,463 shares in the last quarter. Drummond Knight Asset Management Pty Ltd acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at $8,994,000. EP Wealth Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at $202,000. CoreCap Advisors LLC raised its stake in shares of Agnico Eagle Mines by 9.7% in the fourth quarter. CoreCap Advisors LLC now owns 9,654 shares of the mining company's stock valued at $755,000 after acquiring an additional 856 shares in the last quarter. Finally, CoreCommodity Management LLC raised its stake in shares of Agnico Eagle Mines by 12.6% in the fourth quarter. CoreCommodity Management LLC now owns 33,933 shares of the mining company's stock valued at $2,653,000 after acquiring an additional 3,808 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.
Agnico Eagle Mines Stock Performance
Shares of NYSE AEM traded down $2.60 during midday trading on Wednesday, reaching $104.40. 4,783,959 shares of the company were exchanged, compared to its average volume of 2,508,074. Agnico Eagle Mines Limited has a 1 year low of $63.01 and a 1 year high of $126.76. The stock has a fifty day simple moving average of $110.21 and a 200 day simple moving average of $95.10. The stock has a market cap of $52.54 billion, a P/E ratio of 27.62, a PEG ratio of 0.66 and a beta of 0.54. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.
Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous 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, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.
Agnico Eagle Mines Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Monday, December 1st. Agnico Eagle Mines's dividend payout ratio is presently 34.04%.
Analyst Upgrades and Downgrades
AEM has been the topic of several analyst reports. StockNews.com cut Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. TD Securities cut their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. BMO Capital Markets initiated coverage on Agnico Eagle Mines in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 price target on the stock. Royal Bank of Canada boosted their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Finally, Stifel Canada upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. Two 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $124.40.
Check Out Our Latest Research Report on AEM
Agnico Eagle Mines Company Profile
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Free Report)
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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