Agnico Eagle Mines Limited $AEM Stake Cut by Denali Advisors LLC

Key Points

• Denali Advisors LLC cut its stake in Agnico Eagle Mines by 17.9% in the fourth quarter, selling 8,632 shares and leaving it with 39,487 shares valued at about $6.7 million.
• Analyst sentiment remains mixed but positive overall, with a consensus rating of “Moderate Buy” and an average price target of $238.18. Recent moves included TD Securities raising its target to $251 and ATB Cormark upgrading the stock to “outperform.”
• The company posted strong quarterly results, reporting EPS of $3.40 versus expectations of $3.19 and revenue of $4.0 billion, while also announcing a quarterly dividend of $0.45 per share payable June 15.

Denali Advisors LLC cut its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 17.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,487 shares of the mining company's stock after selling 8,632 shares during the quarter. Denali Advisors LLC's holdings in Agnico Eagle Mines were worth $6,704,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AEM. Brighton Jones LLC lifted its stake in Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after purchasing an additional 331 shares during the last quarter. AQR Capital Management LLC lifted its stake in Agnico Eagle Mines by 36.4% during the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company's stock worth $2,150,000 after purchasing an additional 5,293 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Agnico Eagle Mines by 57.2% during the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company's stock worth $379,000 after purchasing an additional 1,160 shares during the last quarter. Rhumbline Advisers lifted its stake in Agnico Eagle Mines by 8.0% during the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company's stock worth $215,000 after purchasing an additional 134 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Agnico Eagle Mines by 25.2% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company's stock worth $110,000 after buying an additional 187 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AEM has been the topic of several analyst reports. TD Securities increased their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Wall Street Zen lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 11th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research report on Monday. Erste Group Bank lowered Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research report on Tuesday, March 24th. Finally, Weiss Ratings lowered Agnico Eagle Mines from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, April 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $238.18.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $193.34 on Friday. The firm has a market capitalization of $96.77 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 4.12 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 3.15. Agnico Eagle Mines Limited has a one year low of $103.38 and a one year high of $255.24. The stock's fifty day moving average is $208.63 and its 200-day moving average is $192.16.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating analysts' consensus estimates of $3.19 by $0.21. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company's quarterly revenue was up 66.1% compared to the same quarter last year. During the same period last year, the company earned $1.53 earnings per share. Equities analysts anticipate that Agnico Eagle Mines Limited will post 13.07 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Agnico Eagle Mines's dividend payout ratio (DPR) is 16.92%.

Agnico Eagle Mines Company 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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