Avanza Fonder AB Decreases Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Avanza Fonder AB cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 15.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,523 shares of the mining company's stock after selling 6,600 shares during the period. Avanza Fonder AB's holdings in Agnico Eagle Mines were worth $3,959,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AEM. Brighton Jones LLC increased its position in shares of 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 in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Agnico Eagle Mines by 2.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 10,712 shares of the mining company's stock worth $838,000 after purchasing an additional 241 shares in the last quarter. Empowered Funds LLC increased its position in shares of Agnico Eagle Mines by 65.2% in the 4th quarter. Empowered Funds LLC now owns 71,788 shares of the mining company's stock valued at $5,615,000 after acquiring an additional 28,324 shares during the period. Stephens Inc. AR acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at $284,000. Finally, Kestra Private Wealth Services LLC increased its position in shares of Agnico Eagle Mines by 23.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,929 shares of the mining company's stock valued at $620,000 after acquiring an additional 1,515 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Performance

AEM traded up $2.42 during midday trading on Friday, hitting $124.51. 2,989,145 shares of the company were exchanged, compared to its average volume of 2,576,199. The company's 50 day simple moving average is $116.10 and its 200 day simple moving average is $100.50. The firm has a market capitalization of $62.68 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 0.66 and a beta of 0.51. 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 1-year low of $63.81 and a 1-year high of $126.76.

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

Agnico Eagle Mines Dividend Announcement

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

Analyst Ratings Changes

AEM has been the topic of several research reports. Citigroup upped their target price on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, March 31st. BMO Capital Markets initiated coverage on Agnico Eagle Mines in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 target price on the stock. National Bank Financial raised Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, March 21st. Bank of America upped their target price on Agnico Eagle Mines from $119.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Finally, UBS Group upped their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target 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.