Toronto Dominion Bank Lowers Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Toronto Dominion Bank reduced its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 11.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,445,546 shares of the mining company's stock after selling 185,866 shares during the period. Toronto Dominion Bank owned about 0.29% of Agnico Eagle Mines worth $112,950,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new position in Agnico Eagle Mines in the fourth quarter worth $573,446,000. Capital World Investors lifted its holdings in shares of Agnico Eagle Mines by 41.9% in the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company's stock valued at $1,091,550,000 after buying an additional 4,121,164 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company's stock worth $551,339,000 after buying an additional 3,155,927 shares during the last quarter. AGF Management Ltd. raised its position in Agnico Eagle Mines by 184.6% during the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company's stock valued at $109,205,000 after acquiring an additional 905,328 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Agnico Eagle Mines by 3.6% in the 4th quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company's stock worth $1,745,858,000 after purchasing an additional 778,919 shares in the last quarter. Institutional investors own 68.34% of the company's stock.

Agnico Eagle Mines Stock Up 2.6%

AEM stock traded up $3.03 during midday trading on Friday, hitting $117.62. The company's stock had a trading volume of 1,678,464 shares, compared to its average volume of 2,543,566. The firm has a 50-day simple moving average of $111.40 and a 200-day simple moving average of $96.14. The firm has a market capitalization of $59.19 billion, a P/E ratio of 31.12, a PEG ratio of 0.66 and a beta of 0.54. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52-week low of $63.01 and a 52-week high of $126.76.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.14. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the business posted $0.76 earnings per share. Agnico Eagle Mines's revenue was up 34.9% compared to the same quarter last year. As a group, equities analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Monday, December 1st. Agnico Eagle Mines's payout ratio is 34.04%.

Analysts Set New Price Targets

AEM has been the subject of a number of analyst reports. TD Securities reduced their price target on Agnico Eagle Mines from $108.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. BMO Capital Markets began coverage on Agnico Eagle Mines in a research report on Wednesday, April 16th. They set an "outperform" rating and a $181.00 price target for the company. Scotiabank reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Raymond James raised their price target on shares of Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Finally, Royal Bank of Canada upped their price objective on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $124.40.

About Agnico Eagle Mines

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.