Sienna Gestion Cuts Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Key Points

• Sienna Gestion has decreased its holdings in Agnico Eagle Mines Limited by 5.8% during the first quarter, owning 86,500 shares valued at approximately $9.1 million.
• Institutional investors now hold 68.34% of Agnico Eagle Mines’ stock, with several hedge funds increasing their stakes significantly in recent quarters.
• Agnico Eagle Mines recently achieved an earnings per share of $1.94, surpassing analyst estimates, and announced a dividend of $0.40 per share, representing a yield of 136.0%.

Sienna Gestion reduced its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 5.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,500 shares of the mining company's stock after selling 5,300 shares during the quarter. Sienna Gestion's holdings in Agnico Eagle Mines were worth $9,108,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AEM. Capital World Investors grew its holdings in shares of Agnico Eagle Mines by 41.9% in the fourth quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock valued at $1,091,550,000 after purchasing an additional 4,121,164 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Agnico Eagle Mines by 3.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company's stock worth $1,457,160,000 after purchasing an additional 499,362 shares in the last quarter. Deutsche Bank AG increased its position in Agnico Eagle Mines by 0.7% during the 4th quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company's stock worth $932,008,000 after purchasing an additional 87,410 shares in the last quarter. TD Asset Management Inc boosted its stake in Agnico Eagle Mines by 42.8% in the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company's stock worth $978,553,000 after buying an additional 2,709,005 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Agnico Eagle Mines by 11.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company's stock valued at $728,214,000 after purchasing an additional 673,400 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 0.4%

Shares of AEM traded up $0.55 during mid-day trading on Friday, reaching $133.28. 2,164,905 shares of the stock traded hands, compared to its average volume of 2,772,824. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $123.98 and a 200 day simple moving average of $113.34. The firm has a market cap of $67.02 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 0.92 and a beta of 0.44. Agnico Eagle Mines Limited has a 12-month low of $75.17 and a 12-month high of $137.81.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Wednesday, July 30th. The mining company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%. The company had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The business's revenue for the quarter was up 35.6% on a year-over-year basis. Sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.40 dividend. This represents a yield of 136.0%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines's dividend payout ratio is currently 27.21%.

Analyst Ratings Changes

AEM has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on Agnico Eagle Mines from $115.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Bank of America increased their price objective on Agnico Eagle Mines from $170.00 to $173.00 and gave the company a "buy" rating in a report on Monday, June 23rd. National Bankshares restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, June 24th. Raymond James Financial upgraded Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price target on the stock in a research report on Monday, June 30th. Finally, Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, Agnico Eagle Mines presently has a consensus rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines 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.