Agnico Eagle Mines Limited (NYSE:AEM) Position Reduced by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 386,380 shares of the mining company’s stock after selling 145,993 shares during the quarter. Russell Investments Group Ltd.’s holdings in Agnico Eagle Mines were worth $30,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AEM. Versant Capital Management Inc acquired a new stake in Agnico Eagle Mines during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC increased its holdings in shares of 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 buying an additional 318 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at $29,000. Fifth Third Bancorp boosted its stake in shares of Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after acquiring an additional 260 shares in the last quarter. Finally, Duncker Streett & Co. Inc. grew its holdings in shares of Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after acquiring an additional 112 shares during the last quarter. 68.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AEM has been the subject of several analyst reports. Royal Bank of Canada upped their target price on Agnico Eagle Mines from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Scotiabank upped their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. UBS Group downgraded shares of Agnico Eagle Mines from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $100.00 to $110.00 in a research report on Monday, March 31st. Jefferies Financial Group upped their price target on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. Finally, Bank of America lifted their price objective on shares of Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $111.40.

Agnico Eagle Mines Trading Up 0.3 %

Shares of NYSE:AEM opened at $99.97 on Wednesday. The firm has a fifty day moving average of $100.37 and a two-hundred day moving average of $89.08. 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 12-month low of $60.15 and a 12-month high of $111.04. The firm has a market capitalization of $50.29 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 13th. The mining company reported $1.26 earnings per share (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%. On average, equities analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.40 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.60%. Agnico Eagle Mines’s payout ratio is 42.33%.

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.