Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Heathbridge Capital Management Ltd.

Heathbridge Capital Management Ltd. cut its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 22.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,300 shares of the mining company's stock after selling 41,500 shares during the quarter. Agnico Eagle Mines makes up 6.4% of Heathbridge Capital Management Ltd.'s portfolio, making the stock its 5th biggest holding. Heathbridge Capital Management Ltd.'s holdings in Agnico Eagle Mines were worth $15,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its position in Agnico Eagle Mines by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company's stock worth $1,554,180,000 after buying an additional 331,087 shares during the last quarter. Capital World Investors increased its position in Agnico Eagle Mines by 41.9% during the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after buying an additional 4,121,164 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Agnico Eagle Mines by 3.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock valued at $1,457,160,000 after acquiring an additional 499,362 shares during the period. Deutsche Bank AG boosted its holdings in Agnico Eagle Mines by 0.7% during the fourth quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock valued at $932,008,000 after acquiring an additional 87,410 shares during the period. Finally, Norges Bank bought a new stake in Agnico Eagle Mines during the fourth quarter valued at about $573,446,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AEM has been the subject of several research reports. UBS Group increased their target price on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Cfra Research upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, April 25th. Raymond James Financial upgraded shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 target price for the company in a research note on Monday, June 30th. National Bank Financial upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Citigroup increased their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $136.90.

Agnico Eagle Mines Price Performance

AEM traded down $0.89 during midday trading on Friday, reaching $117.72. 1,872,910 shares of the company's stock were exchanged, compared to its average volume of 2,614,584. The firm has a market capitalization of $59.19 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 0.87 and a beta of 0.50. The company has a quick ratio of 1.20, a current ratio of 2.37 and a debt-to-equity ratio of 0.05. Agnico Eagle Mines Limited has a one year low of $69.72 and a one year high of $126.76. The business has a 50-day simple moving average of $117.99 and a two-hundred day simple moving average of $106.95.

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 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.14. The firm had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.27 billion. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The company's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. As a group, research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

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

About Agnico Eagle Mines

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.