Shell Asset Management Co. Sells 6,383 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Shell Asset Management Co. lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 132,805 shares of the mining company’s stock after selling 6,383 shares during the quarter. Shell Asset Management Co.’s holdings in Agnico Eagle Mines were worth $10,386,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in Agnico Eagle Mines by 78.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company’s stock worth $255,000 after purchasing an additional 1,431 shares in the last quarter. Forsta AP Fonden increased its position in shares of Agnico Eagle Mines by 8.9% during the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock valued at $15,256,000 after buying an additional 16,000 shares during the period. Resonant Capital Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the fourth quarter valued at about $208,000. US Bancorp DE raised its stake in Agnico Eagle Mines by 2.7% in the fourth quarter. US Bancorp DE now owns 6,770 shares of the mining company’s stock worth $529,000 after buying an additional 175 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Agnico Eagle Mines in the fourth quarter worth about $602,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $106.44 on Friday. Agnico Eagle Mines Limited has a 1 year low of $63.01 and a 1 year high of $126.76. The firm’s 50-day moving average is $110.51 and its 200 day moving average is $95.30. The stock has a market cap of $53.57 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 0.66 and a beta of 0.54. 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) (TSE:AEM) last issued its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.14. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.40 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a yield of 1.50%. Agnico Eagle Mines’s payout ratio is currently 34.04%.

Analyst Upgrades and Downgrades

AEM has been the topic of a number of research analyst reports. Bank of America upped their target price on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, April 8th. Raymond James upped their price target on Agnico Eagle Mines from $105.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Royal Bank of Canada raised their price objective on Agnico Eagle Mines from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. BMO Capital Markets assumed coverage on shares of Agnico Eagle Mines in a report on Wednesday, April 16th. They set an “outperform” rating and a $181.00 target price on the stock. Finally, StockNews.com lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average 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.