Ashton Thomas Private Wealth LLC Cuts Position in Agnico Eagle Mines Limited $AEM

Key Points

• Ashton Thomas Private Wealth LLC sharply reduced its stake in Agnico Eagle, selling 17,446 shares to cut its holding by 67.8%, leaving 8,275 shares valued at about $1.403 million at quarter-end.
• Major institutions — including Vanguard, Capital World Investors, MFS, TD Asset Management and Arrowstreet — increased positions, with institutional investors now owning roughly 68.34% of the company.
• Agnico Eagle beat quarterly expectations (EPS $2.69 vs. $2.56 consensus; revenue $3.53B, up 60.3% YoY) and raised its quarterly dividend from $0.40 to $0.45 (annualized $1.80, ~1.0% yield).

Ashton Thomas Private Wealth LLC decreased its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 67.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,275 shares of the mining company's stock after selling 17,446 shares during the period. Ashton Thomas Private Wealth LLC's holdings in Agnico Eagle Mines were worth $1,403,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Agnico Eagle Mines by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company's stock valued at $3,557,772,000 after buying an additional 309,717 shares during the period. Capital World Investors raised its holdings in Agnico Eagle Mines by 20.0% in the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company's stock valued at $3,497,470,000 after buying an additional 3,462,968 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Agnico Eagle Mines by 5.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company's stock valued at $1,974,242,000 after buying an additional 602,489 shares during the period. TD Asset Management Inc raised its holdings in Agnico Eagle Mines by 1.5% in the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company's stock valued at $1,600,436,000 after buying an additional 143,645 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Agnico Eagle Mines by 3.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 8,589,745 shares of the mining company's stock valued at $1,447,494,000 after buying an additional 292,949 shares during the period. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Down 3.1%

Shares of NYSE:AEM opened at $183.27 on Thursday. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 52-week low of $103.38 and a 52-week high of $255.24. The company has a 50 day moving average of $212.49 and a two-hundred day moving average of $191.78. The company has a market capitalization of $91.74 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 9.91 and a beta of 0.71.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the company earned $1.26 earnings per share. Agnico Eagle Mines's revenue for the quarter was up 60.3% on a year-over-year basis. As a group, analysts forecast that Agnico Eagle Mines Limited will post 12.98 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Agnico Eagle Mines's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Agnico Eagle Mines's dividend payout ratio is 20.27%.

Wall Street Analysts Forecast Growth

AEM has been the topic of several research reports. Zacks Research lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Raymond James Financial reaffirmed an "outperform" rating and issued a $225.00 price objective on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Scotiabank reaffirmed an "outperform" rating and issued a $280.00 price objective on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. JPMorgan Chase & Co. lowered their price objective on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a "neutral" rating for the company in a research report on Wednesday, February 18th. Finally, UBS Group lowered their price objective on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating for the company in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $239.36.

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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