Stack Financial Management Inc Cuts Stock Position in Agnico Eagle Mines Limited $AEM

Key Points

• Stack Financial Management cut its stake in Agnico Eagle Mines by 29.2% in Q4, selling 73,936 shares and retaining 179,580 shares worth $30.44 million, about 2.3% of the fund's portfolio and its 12th largest holding.
• Agnico Eagle beat quarterly expectations with EPS of $3.40 vs. $3.19 expected and revenue of $4.0 billion (up 66.1% year‑over‑year), and analysts forecast roughly 12.91 EPS for the fiscal year.
• The company declared a quarterly dividend of $0.45 per share (ex‑dividend June 1, payable June 15) for a ~1.0% yield, and analysts' consensus rating is "Moderate Buy" with a target price of $238.18.

Stack Financial Management Inc lessened its stake in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 29.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,580 shares of the mining company's stock after selling 73,936 shares during the period. Agnico Eagle Mines accounts for approximately 2.3% of Stack Financial Management Inc's investment portfolio, making the stock its 12th largest holding. Stack Financial Management Inc's holdings in Agnico Eagle Mines were worth $30,444,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in Agnico Eagle Mines by 381.3% in the third quarter. True Wealth Design LLC now owns 154 shares of the mining company's stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its stake in Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company's stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. MCF Advisors LLC purchased a new position in Agnico Eagle Mines in the third quarter valued at about $34,000. Abound Wealth Management grew its stake in Agnico Eagle Mines by 99.0% in the fourth quarter. Abound Wealth Management now owns 209 shares of the mining company's stock valued at $35,000 after purchasing an additional 104 shares during the last quarter. Finally, Lodestone Wealth Management LLC purchased a new position in Agnico Eagle Mines in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $179.66 on Tuesday. Agnico Eagle Mines Limited has a fifty-two week low of $103.38 and a fifty-two week high of $255.24. The firm has a market capitalization of $89.93 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 4.12 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. The stock's 50-day simple moving average is $211.77 and its 200-day simple moving average is $192.04.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, topping analysts' consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.69% and a net margin of 39.46%.The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The company's revenue was up 66.1% on a year-over-year basis. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 12.91 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Agnico Eagle Mines's payout ratio is 16.92%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AEM. Erste Group Bank lowered Agnico Eagle Mines from a "buy" rating to a "hold" rating in a research note on Tuesday, March 24th. Scotiabank restated an "outperform" rating and set a $280.00 price target on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce dropped their price target on Agnico Eagle Mines from $312.00 to $304.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price target on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, Wall Street Zen lowered Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 11th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Agnico Eagle Mines has an average rating of "Moderate Buy" and a consensus target price of $238.18.

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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