Foundation Resource Management Inc. Sells 9,515 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Foundation Resource Management Inc. lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,001 shares of the mining company's stock after selling 9,515 shares during the period. Agnico Eagle Mines makes up about 5.2% of Foundation Resource Management Inc.'s holdings, making the stock its 5th biggest holding. Foundation Resource Management Inc. owned 0.06% of Agnico Eagle Mines worth $33,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Agnico Eagle Mines in the 4th quarter worth approximately $573,446,000. Capital World Investors boosted its stake in shares of 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 purchasing an additional 4,121,164 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Agnico Eagle Mines by 81.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock valued at $551,339,000 after buying an additional 3,155,927 shares during the period. AGF Management Ltd. increased its position in shares of Agnico Eagle Mines by 184.6% during the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company's stock valued at $109,205,000 after buying an additional 905,328 shares during the period. Finally, Van ECK Associates Corp raised its stake in 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 in the last quarter. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

NYSE:AEM traded up $0.56 during trading hours on Monday, hitting $118.53. 1,585,916 shares of the stock were exchanged, compared to its average volume of 3,128,212. 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 Limited has a 52-week low of $63.43 and a 52-week high of $126.75. The company has a market cap of $59.67 billion, a P/E ratio of 31.36, a P/E/G ratio of 0.66 and a beta of 0.51. The firm's fifty day moving average price is $114.38 and its 200 day moving average price is $99.33.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.14. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.27 billion. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The business's revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 EPS. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a dividend yield of 1.36%. Agnico Eagle Mines's payout ratio is 34.04%.

Analysts Set New Price Targets

A number of brokerages have weighed in on AEM. National Bank Financial upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. Royal Bank of Canada raised their price target on shares of Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Stifel Canada upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. Wall Street Zen lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Finally, UBS Group boosted their price target on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Two research 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 MarketBeat.com, Agnico Eagle Mines presently has a consensus rating of "Buy" and a consensus target price of $127.40.

Agnico Eagle Mines Profile

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.