Cambridge Investment Research Advisors Inc. Trims Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Cambridge Investment Research Advisors Inc. lessened its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 16.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,488 shares of the mining company's stock after selling 8,062 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Agnico Eagle Mines were worth $4,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Agnico Eagle Mines in the 4th quarter worth approximately $573,446,000. 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 purchasing an additional 4,121,164 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock worth $551,339,000 after purchasing an additional 3,155,927 shares in the last quarter. AGF Management Ltd. raised its position in shares of Agnico Eagle Mines by 184.6% during the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company's stock valued at $109,205,000 after purchasing an additional 905,328 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Agnico Eagle Mines by 33.2% during the 4th quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company's stock valued at $239,844,000 after buying an additional 749,932 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AEM. Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, April 25th. Bank of America boosted their target price on shares of Agnico Eagle Mines from $170.00 to $173.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research note on Monday, June 23rd. Scotiabank reiterated an "outperform" rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Finally, National Bank Financial raised shares of Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, March 21st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $130.50.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM traded down $0.33 on Tuesday, reaching $118.60. The company's stock had a trading volume of 897,643 shares, compared to its average volume of 2,594,533. The company has a 50-day simple moving average of $117.41 and a 200 day simple moving average of $103.43. Agnico Eagle Mines Limited has a 52-week low of $64.65 and a 52-week high of $126.76. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 2.37. The company has a market cap of $59.69 billion, a P/E ratio of 25.20, a PEG ratio of 0.87 and a beta of 0.51.

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, beating analysts' consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm earned $0.76 EPS. The firm's revenue for the quarter was up 34.9% compared to the same quarter last year. 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 business also recently announced a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.40 dividend. This represents a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio (DPR) is 34.04%.

Agnico Eagle Mines Company 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.