Montrusco Bolton Investments Inc. Lowers Stake in Agnico Eagle Mines Limited $AEM

Key Points

• Montrusco Bolton Investments reduced its stake in Agnico Eagle by 11.7% in Q4, selling 22,694 shares and ending the period with 171,124 shares valued at about $29.06 million.
• Agnico reported strong quarterly results — $2.69 EPS vs. $2.56 expected and revenue of $3.53 billion (up 60.3% YoY) — and raised its quarterly dividend to $0.45 ($1.80 annualized, ~0.9% yield).
• Corporate and market developments include completion of a 70% interest acquisition in Fingold, while analysts are mixed but the stock holds an average rating of "Moderate Buy" with a consensus target of $239.36.

Montrusco Bolton Investments Inc. reduced its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,124 shares of the mining company's stock after selling 22,694 shares during the period. Montrusco Bolton Investments Inc.'s holdings in Agnico Eagle Mines were worth $29,058,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AEM. Brighton Jones LLC grew its stake in shares of Agnico Eagle Mines by 11.5% in the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company's stock worth $252,000 after acquiring an additional 331 shares during the period. AQR Capital Management LLC lifted its holdings in Agnico Eagle Mines by 36.4% during the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company's stock valued at $2,150,000 after purchasing an additional 5,293 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Agnico Eagle Mines by 57.2% during the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company's stock valued at $379,000 after purchasing an additional 1,160 shares in the last quarter. Rhumbline Advisers lifted its holdings in Agnico Eagle Mines by 8.0% during the second quarter. Rhumbline Advisers now owns 1,810 shares of the mining company's stock valued at $215,000 after purchasing an additional 134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Agnico Eagle Mines by 25.2% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the mining company's stock worth $110,000 after buying an additional 187 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Trending Headlines about Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Analyst comparison notes that rising gold prices, higher production and falling leverage make AEM attractive versus peers, supporting upside potential and cash flow improvement for AEM. AEM vs. KGC: Which Gold Miner Deserves a Spot in Your Portfolio?
• Positive Sentiment: Agnico completed the acquisition of a 70% interest in Fingold from B2Gold, expanding its resource base and optionality for future production — a direct asset boost for AEM. B2Gold Completes the Sale of its 70% Interest in Fingold
• Positive Sentiment: Cascadia closed a flow-through private placement that included Agnico as a participant, indicating AEM is actively investing in early-stage/greenfield exploration exposure. This can seed long-term growth opportunities. Cascadia Announces Closing of Equity Investment
• Positive Sentiment: FireFox Gold reports exploration progress at Kolho where an Agnico subsidiary operates the program — continued JV exploration increases discovery optionality for AEM without sole capital burden. FireFox Gold Provides Update on Kolho Joint Venture Lapland, Finland
• Neutral Sentiment: CIBC kept an Outperformer rating on AEM but trimmed its price target slightly to $304 from $312 — endorsement of the thesis but a modestly lower valuation expectation. CIBC Maintains Outperformer Rating on Agnico Eagle Mines (AEM)
• Neutral Sentiment: Trending/retail interest pieces (Zacks/Yahoo) are flagging AEM as a name garnering attention and debate — increased attention can boost volume but doesn't change fundamentals immediately. Is Trending Stock Agnico Eagle Mines Limited (AEM) a Buy Now?
• Negative Sentiment: A Zacks earnings preview suggests AEM lacks the setup for an earnings beat in the upcoming report — that raises the risk of a near-term share-price pullback if results or guidance disappoint. Agnico Eagle Mines (AEM) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Zacks Research cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Wall Street Zen cut shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 11th. UBS Group lowered their target price on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating for the company in a research note on Friday, March 27th. TD upped their price objective 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. Finally, Citigroup upped their price objective on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a "buy" rating in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $239.36.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $200.09 on Friday. The company's fifty day moving average price is $214.09 and its 200 day moving average price is $191.09. Agnico Eagle Mines Limited has a 1 year low of $103.38 and a 1 year high of $255.24. The stock has a market capitalization of $100.15 billion, a P/E ratio of 22.53 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, beating analysts' consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the firm posted $1.26 EPS. The firm's revenue for the quarter was up 60.3% on a year-over-year basis. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 13.2 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.80 annualized dividend and a yield of 0.9%. This is an increase from Agnico Eagle Mines's previous quarterly dividend of $0.40. Agnico Eagle Mines's dividend payout ratio is presently 20.27%.

Agnico Eagle Mines Company Profile

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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