Cheviot Value Management LLC Lowers Holdings in Agnico Eagle Mines Limited $AEM

Key Points

• Cheviot Value Management reduced its Agnico Eagle Mines stake by 8% in the fourth quarter, selling 37,093 shares and leaving it with 425,853 shares worth about $72.2 million.
• Institutional ownership remains high, with investors holding 68.34% of the company, and several firms recently increased their positions in AEM.
• Agnico Eagle Mines has drawn mostly positive analyst coverage, with a Moderate Buy consensus, and it recently topped earnings estimates by posting $3.40 EPS versus $3.19 expected.

Cheviot Value Management LLC lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 8.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 425,853 shares of the mining company's stock after selling 37,093 shares during the quarter. Agnico Eagle Mines comprises 7.5% of Cheviot Value Management LLC's holdings, making the stock its 3rd biggest position. Cheviot Value Management LLC owned 0.09% of Agnico Eagle Mines worth $72,195,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Koshinski Asset Management Inc. acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth approximately $387,000. Violich Capital Management Inc. raised its position in shares of Agnico Eagle Mines by 26.7% in the fourth quarter. Violich Capital Management Inc. now owns 53,273 shares of the mining company's stock valued at $9,031,000 after buying an additional 11,243 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Agnico Eagle Mines in the fourth quarter valued at approximately $236,000. Geneva Partners LLC boosted its stake in shares of Agnico Eagle Mines by 31.1% in the fourth quarter. Geneva Partners LLC now owns 36,235 shares of the mining company's stock valued at $6,143,000 after buying an additional 8,606 shares during the period. Finally, ASR Vermogensbeheer N.V. grew its position in Agnico Eagle Mines by 2.3% during the fourth quarter. ASR Vermogensbeheer N.V. now owns 13,446 shares of the mining company's stock worth $2,283,000 after buying an additional 300 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Analyst Upgrades and Downgrades

AEM has been the topic of a number of recent analyst reports. Erste Group Bank cut shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research note on Tuesday, March 24th. Citigroup raised their target price on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a "buy" rating in a report on Thursday, January 15th. TD Securities boosted their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. ATB Cormark Capital Markets upgraded Agnico Eagle Mines from a "hold" rating to an "outperform" rating in a research report on Monday. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $225.00 price objective on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $238.18.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $193.34 on Friday. The company has a market capitalization of $96.77 billion, a PE ratio of 18.17, a P/E/G ratio of 4.12 and a beta of 0.58. The company has a quick ratio of 1.33, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a twelve month low of $103.38 and a twelve month high of $255.24. The firm has a fifty day simple moving average of $208.63 and a 200 day simple moving average of $192.16.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a net margin of 39.46% and a return on equity of 21.09%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the business posted $1.53 EPS. Agnico Eagle Mines's revenue for the quarter was up 66.1% compared to the same quarter last year. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 13.07 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. Agnico Eagle Mines's payout ratio is presently 16.92%.

About Agnico Eagle Mines

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.