Agnico Eagle Mines Limited $AEM Shares Sold by Moran Wealth Management LLC

Key Points

• Moran Wealth Management reduced its stake in Agnico Eagle Mines by 25.4% in Q4, selling 4,784 shares and leaving it with 14,015 shares valued at about $2.38 million.
• Agnico Eagle beat quarterly estimates with EPS of $2.69 versus $2.56 and revenue of $3.53B (up 60.3% year-over-year), and raised its quarterly dividend to $0.45 ($1.80 annualized, ~0.8% yield).
• Analysts are mixed but generally positive, with a MarketBeat consensus rating of "Moderate Buy" and a consensus price target of $237.30 (2 strong-buy, 8 buy, 5 hold).

Moran Wealth Management LLC reduced its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 25.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,015 shares of the mining company's stock after selling 4,784 shares during the period. Moran Wealth Management LLC's holdings in Agnico Eagle Mines were worth $2,376,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AEM. True Wealth Design LLC increased its holdings in Agnico Eagle Mines by 381.3% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company's stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its holdings in Agnico Eagle Mines by 59.7% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company's stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. MCF Advisors LLC acquired a new stake in Agnico Eagle Mines in the 3rd quarter valued at $34,000. Abound Wealth Management increased its holdings in Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company's stock valued at $35,000 after purchasing an additional 104 shares in the last quarter. Finally, Lodestone Wealth Management LLC acquired a new stake in Agnico Eagle Mines in the 4th quarter valued at $35,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AEM has been the subject of several recent research reports. UBS Group lowered their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating for the company in a report on Friday, March 27th. Erste Group Bank downgraded Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Tuesday, March 24th. TD Securities increased their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Scotiabank restated an "outperform" rating and set a $280.00 target price on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Finally, Zacks Research downgraded Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Agnico Eagle Mines presently has an average rating of "Moderate Buy" and a consensus price target of $237.30.

Agnico Eagle Mines Stock Up 0.1%

Shares of Agnico Eagle Mines stock opened at $220.23 on Monday. The business has a 50-day moving average of $214.87 and a 200-day moving average of $190.16. 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 company has a market capitalization of $110.34 billion, a PE ratio of 24.80 and a beta of 0.71. Agnico Eagle Mines Limited has a 1-year low of $103.38 and a 1-year high of $255.24.

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

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, March 2nd. Agnico Eagle Mines's payout ratio is 20.27%.

Agnico Eagle Mines Profile

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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