K.J. Harrison & Partners Inc Sells 6,800 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• K.J. Harrison & Partners Inc trimmed its Agnico Eagle stake by 10.9%, selling 6,800 shares and leaving 55,376 shares valued at about $9.40 million (roughly 1.3% of the firm's holdings, its 14th largest position).
• Agnico Eagle beat expectations this quarter with EPS $3.40 (vs. $3.19 est.) and revenue of $4.0 billion, up 66.1% year-over-year, and reported a strong net margin of 39.46%.
• Analysts give the stock a "Moderate Buy" consensus with a consensus target of $238.18; Agnico has a market cap of about $94.98 billion, a PE of 17.84, and announced a quarterly dividend of $0.45 (annualized $1.80, yield 0.9%, ex-dividend June 1).

K.J. Harrison & Partners Inc cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,376 shares of the mining company's stock after selling 6,800 shares during the quarter. Agnico Eagle Mines accounts for approximately 1.3% of K.J. Harrison & Partners Inc's holdings, making the stock its 14th biggest holding. K.J. Harrison & Partners Inc's holdings in Agnico Eagle Mines were worth $9,404,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Agnico Eagle Mines by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 20,979,666 shares of the mining company's stock worth $3,557,772,000 after purchasing an additional 309,717 shares during the last quarter. Capital World Investors grew its stake in shares of Agnico Eagle Mines by 20.0% during the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company's stock valued at $3,497,470,000 after buying an additional 3,462,968 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Agnico Eagle Mines by 5.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company's stock valued at $1,974,242,000 after buying an additional 602,489 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Agnico Eagle Mines by 1.5% in the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company's stock worth $1,600,436,000 after buying an additional 143,645 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Agnico Eagle Mines by 3.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,589,745 shares of the mining company's stock valued at $1,447,494,000 after acquiring an additional 292,949 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AEM shares. Canadian Imperial Bank of Commerce dropped their target price on Agnico Eagle Mines from $312.00 to $304.00 and set an "outperform" rating for the company in a report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a "neutral" rating in a research report on Monday. Wall Street Zen lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 11th. Citigroup raised their target price on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a "buy" rating in a report on Thursday, January 15th. Finally, TD lifted their target price on shares of Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has an average rating of "Moderate Buy" and a consensus target price of $238.18.

Agnico Eagle Mines Stock Up 6.5%

NYSE AEM opened at $189.78 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.15 and a quick ratio of 1.33. The stock has a market capitalization of $94.98 billion, a PE ratio of 17.84, a PEG ratio of 3.94 and a beta of 0.58. Agnico Eagle Mines Limited has a 1 year low of $103.38 and a 1 year high of $255.24. The business's 50-day moving average is $209.76 and its 200 day moving average is $192.07.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 EPS for the quarter, beating analysts' consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the company posted $1.53 EPS. Agnico Eagle Mines's quarterly revenue was up 66.1% compared to the same quarter last year. Sell-side analysts forecast that Agnico Eagle Mines Limited will post 12.95 earnings per share 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. Investors of record on Monday, June 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, June 1st. Agnico Eagle Mines's dividend payout ratio is currently 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.

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