Investment Management Corp of Ontario Trims Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Investment Management Corp of Ontario reduced its position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 11.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,678 shares of the mining company's stock after selling 2,596 shares during the quarter. Investment Management Corp of Ontario's holdings in Agnico Eagle Mines were worth $1,539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of Agnico Eagle Mines by 859.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company's stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Agnico Eagle Mines during the 4th quarter valued at $29,000. Fifth Third Bancorp raised its position in Agnico Eagle Mines by 176.9% in the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company's stock worth $32,000 after purchasing an additional 260 shares during the period. Duncker Streett & Co. Inc. lifted its stake 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 worth $32,000 after purchasing an additional 112 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Agnico Eagle Mines in the fourth quarter worth $34,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 1.6%

Agnico Eagle Mines stock traded up $1.66 during mid-day trading on Thursday, reaching $106.44. 4,174,344 shares of the company traded hands, compared to its average volume of 2,514,717. 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 Limited has a 52-week low of $63.01 and a 52-week high of $126.76. The firm has a market capitalization of $53.57 billion, a price-to-earnings ratio of 28.16, a P/E/G ratio of 0.66 and a beta of 0.54. The firm's 50 day moving average price is $110.32 and its 200 day moving average price is $95.16.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last announced its quarterly earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.14. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The company had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.27 billion. During the same quarter in the previous year, the company earned $0.76 earnings per share. Agnico Eagle Mines's quarterly revenue was up 34.9% on a year-over-year basis. On average, analysts anticipate that Agnico Eagle Mines Limited will post 4.63 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, December 15th. Stockholders of record on Monday, December 1st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Monday, December 1st. Agnico Eagle Mines's dividend payout ratio is currently 34.04%.

Analysts Set New Price Targets

AEM has been the topic of a number of recent research reports. Stifel Canada raised Agnico Eagle Mines to a "strong-buy" rating in a research note on Wednesday, March 19th. Cfra Research upgraded Agnico Eagle Mines to a "strong-buy" rating in a research report on Friday, April 25th. BMO Capital Markets started coverage on Agnico Eagle Mines in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $181.00 price target on the stock. Bank of America boosted their price objective on Agnico Eagle Mines from $119.00 to $142.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Finally, Citigroup raised their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $124.40.

Agnico Eagle Mines Company 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.