Essex Investment Management Co. LLC Cuts Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Essex Investment Management Co. LLC reduced its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,441 shares of the mining company’s stock after selling 996 shares during the period. Essex Investment Management Co. LLC’s holdings in Agnico Eagle Mines were worth $3,554,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Agnico Eagle Mines by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after buying an additional 32,991 shares in the last quarter. Bridgewater Associates LP increased its stake in Agnico Eagle Mines by 123.2% during the 3rd quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock worth $16,448,000 after buying an additional 112,712 shares in the last quarter. Caldwell Investment Management Ltd. increased its stake in Agnico Eagle Mines by 12.0% during the 4th quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock worth $6,812,000 after buying an additional 9,400 shares in the last quarter. Forsta AP Fonden increased its stake in Agnico Eagle Mines by 8.9% during the 4th quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock worth $15,256,000 after buying an additional 16,000 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Agnico Eagle Mines by 14.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 225,965 shares of the mining company’s stock worth $18,223,000 after buying an additional 29,106 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on AEM. Royal Bank of Canada boosted their price objective on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. StockNews.com cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Scotiabank boosted their target price on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. TD Securities lowered their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Finally, Raymond James set a $105.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.78.

Agnico Eagle Mines Trading Up 1.0 %

AEM opened at $98.85 on Friday. Agnico Eagle Mines Limited has a one year low of $54.02 and a one year high of $101.45. The stock has a market capitalization of $49.71 billion, a PE ratio of 26.15, a P/E/G ratio of 0.66 and a beta of 1.00. The business’s 50 day moving average price is $91.32 and its 200 day moving average price is $85.38. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.62%. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

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.