Oxbow Advisors LLC Sells 76,652 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Oxbow Advisors LLC reduced its Agnico Eagle Mines position by 47% in the fourth quarter, selling 76,652 shares and leaving it with 86,391 shares valued at about $14.6 million.
• Agnico Eagle Mines recently posted strong quarterly results, with EPS of $3.40 beating estimates and revenue of $4.0 billion, up 66.1% year over year.
• Analysts remain generally positive, with a Moderate Buy consensus and a target price of $238.18, while the company also announced a quarterly dividend of $0.45 per share.

Oxbow Advisors LLC cut its position in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 47.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,391 shares of the mining company's stock after selling 76,652 shares during the quarter. Agnico Eagle Mines comprises about 1.3% of Oxbow Advisors LLC's holdings, making the stock its 11th largest position. Oxbow Advisors LLC's holdings in Agnico Eagle Mines were worth $14,646,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AEM. NewEdge Wealth LLC boosted its position in Agnico Eagle Mines by 7.8% during the fourth quarter. NewEdge Wealth LLC now owns 2,492 shares of the mining company's stock valued at $422,000 after acquiring an additional 181 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in shares of Agnico Eagle Mines in the 4th quarter worth about $387,000. Violich Capital Management Inc. raised its position in shares of Agnico Eagle Mines by 26.7% in the 4th quarter. Violich Capital Management Inc. now owns 53,273 shares of the mining company's stock worth $9,031,000 after acquiring an additional 11,243 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Agnico Eagle Mines in the 4th quarter valued at about $236,000. Finally, Geneva Partners LLC lifted its stake in shares of Agnico Eagle Mines by 31.1% in the 4th quarter. Geneva Partners LLC now owns 36,235 shares of the mining company's stock valued at $6,143,000 after purchasing an additional 8,606 shares during the period. Institutional investors and hedge funds own 68.34% of the company's stock.

Analyst Ratings Changes

AEM has been the subject of a number of research analyst reports. TD lifted their target price on Agnico Eagle Mines from $251.00 to $252.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Zacks Research cut Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Weiss Ratings lowered shares of Agnico Eagle Mines from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, April 29th. Scotiabank reiterated an "outperform" rating and set a $280.00 target price on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Finally, Wall Street Zen lowered shares of Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 11th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.18.

Agnico Eagle Mines Stock Up 3.0%

Shares of NYSE:AEM opened at $193.34 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 3.15. Agnico Eagle Mines Limited has a 52-week low of $103.38 and a 52-week high of $255.24. The business's 50 day simple moving average is $208.63 and its two-hundred day simple moving average is $192.16. The firm has a market cap of $96.77 billion, a P/E ratio of 18.17, a PEG ratio of 4.23 and a beta of 0.58.

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 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. The company's quarterly revenue was up 66.1% on a year-over-year basis. As a group, research analysts forecast that Agnico Eagle Mines Limited will post 13.09 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, June 1st. This represents a $1.80 annualized dividend and a yield of 0.9%. Agnico Eagle Mines's dividend 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.

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