Harvey Capital Management Inc. Sells 18,658 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Harvey Capital Management Inc. trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 28.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,334 shares of the mining company's stock after selling 18,658 shares during the period. Agnico Eagle Mines comprises approximately 1.3% of Harvey Capital Management Inc.'s holdings, making the stock its 23rd largest holding. Harvey Capital Management Inc.'s holdings in Agnico Eagle Mines were worth $5,131,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AEM. Jones Financial Companies Lllp lifted its position in shares of Agnico Eagle Mines by 78.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company's stock worth $255,000 after purchasing an additional 1,431 shares during the last quarter. US Bancorp DE increased its holdings in shares of Agnico Eagle Mines by 2.7% in the 4th quarter. US Bancorp DE now owns 6,770 shares of the mining company's stock worth $529,000 after acquiring an additional 175 shares during the period. DAVENPORT & Co LLC bought a new stake in shares of Agnico Eagle Mines during the first quarter valued at approximately $226,000. Golden State Wealth Management LLC acquired a new position in Agnico Eagle Mines during the 1st quarter worth $34,000. Finally, Captrust Financial Advisors grew its position in Agnico Eagle Mines by 6.5% in the 4th quarter. Captrust Financial Advisors now owns 5,663 shares of the mining company's stock valued at $443,000 after buying an additional 347 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Agnico Eagle Mines Stock Up 1.4%

Shares of NYSE AEM traded up $1.66 during mid-day trading on Friday, reaching $119.81. The company had a trading volume of 1,782,845 shares, compared to its average volume of 2,611,604. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 2.37. Agnico Eagle Mines Limited has a twelve month low of $69.72 and a twelve month high of $126.76. The stock's 50 day moving average is $117.57 and its 200-day moving average is $105.27. The stock has a market capitalization of $60.24 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 0.88 and a beta of 0.50.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its 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 return on equity of 12.09% and a net margin of 26.48%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The business's quarterly revenue was up 34.9% compared to the same quarter last year. As a group, equities analysts anticipate 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 disclosed a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 1.36%. Agnico Eagle Mines's dividend payout ratio is currently 34.04%.

Analyst Ratings Changes

Several brokerages recently commented on AEM. Cfra Research raised Agnico Eagle Mines to a "strong-buy" rating in a report on Friday, April 25th. Citigroup boosted their price objective on Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Scotiabank restated an "outperform" rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. UBS Group lifted their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Finally, Stifel Canada raised Agnico Eagle Mines to a "strong-buy" rating in a report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of "Buy" and a consensus price target of $133.78.

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.