Plato Investment Management Ltd Sells 7,979 Shares of Agnico Eagle Mines Limited $AEM

Key Points

• Plato Investment Management Ltd cut its stake in Agnico Eagle Mines by 40.9% in the fourth quarter, selling 7,979 shares and leaving it with 11,510 shares worth about $1.96 million.
• Agnico Eagle Mines reported strong quarterly results, posting EPS of $3.40 versus estimates of $3.19 and revenue of $4.0 billion, up 66.1% year over year.
• The company also declared a quarterly dividend of $0.45 per share, and analysts remain generally constructive with a consensus rating of Moderate Buy and an average price target of $238.18.

Plato Investment Management Ltd decreased its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 40.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,510 shares of the mining company's stock after selling 7,979 shares during the quarter. Plato Investment Management Ltd's holdings in Agnico Eagle Mines were worth $1,964,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. MCF Advisors LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $34,000. Lodestone Wealth Management LLC bought a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $35,000. Abound Wealth Management grew its stake in shares of Agnico Eagle Mines by 99.0% in the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company's stock valued at $35,000 after buying an additional 104 shares in the last quarter. Caitlin John LLC bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $36,000. Finally, Bangor Savings Bank bought a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at approximately $37,000. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Trading Up 0.1%

Shares of AEM stock opened at $193.34 on Monday. Agnico Eagle Mines Limited has a 12 month low of $103.38 and a 12 month high of $255.24. The company has a quick ratio of 2.18, a current ratio of 3.15 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $208.63 and its two-hundred day moving average is $192.16. The company has a market cap of $96.77 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 4.23 and a beta of 0.58.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted 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 return on equity of 21.09% and a net margin of 39.46%.The company had revenue of $4 billion during the quarter, compared to analysts' expectations of $3.96 billion. During the same period in the prior year, the business earned $1.53 earnings per share. Agnico Eagle Mines's revenue for the quarter was up 66.1% compared to the same quarter last year. Equities analysts predict that Agnico Eagle Mines Limited will post 13.09 EPS for the current year.

Agnico Eagle Mines Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the company a "neutral" rating in a report on Monday, May 4th. TD Securities increased their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. UBS Group lowered their price target on Agnico Eagle Mines from $240.00 to $210.00 and set a "neutral" rating on the stock in a report on Friday, March 27th. Raymond James Financial reiterated an "outperform" rating and set a $225.00 price target on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Finally, Scotiabank reiterated an "outperform" rating and set a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $238.18.

Agnico Eagle Mines 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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