Washington Capital Management Inc. Sells 2,185 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Washington Capital Management Inc. cut its holdings in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 9.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,330 shares of the mining company's stock after selling 2,185 shares during the quarter. Agnico Eagle Mines makes up 1.9% of Washington Capital Management Inc.'s holdings, making the stock its 6th biggest holding. Washington Capital Management Inc.'s holdings in Agnico Eagle Mines were worth $2,312,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in Agnico Eagle Mines by 859.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company's stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Duncker Streett & Co. Inc. raised its position in Agnico Eagle Mines by 37.3% in the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company's stock valued at $32,000 after purchasing an additional 112 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Agnico Eagle Mines in the fourth quarter valued at about $34,000. Coppell Advisory Solutions LLC raised its position in Agnico Eagle Mines by 235.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company's stock valued at $37,000 after purchasing an additional 329 shares during the last quarter. Finally, Montag A & Associates Inc. raised its position in Agnico Eagle Mines by 85.2% in the fourth quarter. Montag A & Associates Inc. now owns 500 shares of the mining company's stock valued at $39,000 after purchasing an additional 230 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on AEM shares. Royal Bank of Canada increased their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday. BMO Capital Markets started coverage on Agnico Eagle Mines in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 target price for the company. Citigroup increased their target price on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Wall Street Zen downgraded Agnico Eagle Mines from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Finally, Scotiabank restated an "outperform" rating on shares of Agnico Eagle Mines in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $127.40.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $117.93 on Friday. The business has a 50-day moving average of $114.38 and a 200-day moving average of $99.22. Agnico Eagle Mines Limited has a 1 year low of $63.43 and a 1 year high of $126.76. The company has a market capitalization of $59.37 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 0.66 and a beta of 0.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86.

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 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.27 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The firm's revenue was up 34.9% on a year-over-year basis. As a group, equities research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a yield of 1.36%. Agnico Eagle Mines's dividend payout ratio is currently 34.04%.

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.

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