Benson Investment Management Company Inc. Sells 2,410 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Benson Investment Management Company Inc. lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,476 shares of the mining company's stock after selling 2,410 shares during the period. Agnico Eagle Mines accounts for 2.9% of Benson Investment Management Company Inc.'s investment portfolio, making the stock its 6th biggest position. Benson Investment Management Company Inc.'s holdings in Agnico Eagle Mines were worth $6,773,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its holdings in Agnico Eagle Mines by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company's stock valued at $1,745,858,000 after buying an additional 778,919 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Agnico Eagle Mines by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 19,865,285 shares of the mining company's stock worth $1,554,180,000 after acquiring an additional 331,087 shares during the period. Capital World Investors boosted its position in shares of Agnico Eagle Mines by 41.9% in the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock worth $1,091,550,000 after acquiring an additional 4,121,164 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Agnico Eagle Mines by 0.7% in the fourth quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock worth $932,008,000 after acquiring an additional 87,410 shares during the last quarter. Finally, Norges Bank purchased a new stake in Agnico Eagle Mines in the fourth quarter valued at approximately $573,446,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Agnico Eagle Mines Stock Down 3.4%

AEM stock traded down $4.13 during mid-day trading on Friday, hitting $117.93. 3,281,607 shares of the company were exchanged, compared to its average volume of 2,570,643. The firm has a fifty day simple moving average of $114.19 and a 200 day simple moving average of $98.86. The company has a market capitalization of $59.37 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54. Agnico Eagle Mines Limited has a twelve month low of $63.01 and a twelve month high of $126.76. 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 (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.39 by $0.14. The business had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.27 billion. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The company's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 earnings per share. On average, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given 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%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. BMO Capital Markets started coverage on shares of Agnico Eagle Mines in a research note on Wednesday, April 16th. They set an "outperform" rating and a $181.00 price target on the stock. Citigroup upped their price objective on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, March 31st. UBS Group lifted their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Scotiabank reissued an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Finally, Stifel Canada upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently 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.