Agnico Eagle Mines Limited $AEM Shares Sold by Oak Harvest Investment Services

Oak Harvest Investment Services cut its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 28.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,744 shares of the mining company’s stock after selling 30,399 shares during the quarter. Agnico Eagle Mines comprises approximately 0.5% of Oak Harvest Investment Services’ investment portfolio, making the stock its 16th biggest position. Oak Harvest Investment Services’ holdings in Agnico Eagle Mines were worth $13,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. TD Waterhouse Canada Inc. increased its position in shares of Agnico Eagle Mines by 13.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock worth $192,951,000 after purchasing an additional 134,147 shares during the last quarter. Ninety One UK Ltd increased its position in shares of Agnico Eagle Mines by 386.5% during the 3rd quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after purchasing an additional 149,506 shares during the last quarter. Gunderson Capital Management Inc. increased its position in shares of Agnico Eagle Mines by 187.6% during the 4th quarter. Gunderson Capital Management Inc. now owns 48,104 shares of the mining company’s stock worth $8,155,000 after purchasing an additional 31,378 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its position in shares of Agnico Eagle Mines by 1,560.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after purchasing an additional 45,746 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of Agnico Eagle Mines by 1.5% during the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after purchasing an additional 143,645 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AEM. JPMorgan Chase & Co. cut their price objective on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Scotiabank reissued an “outperform” rating and set a $280.00 price objective on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. TD Securities lifted their target price on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Finally, Citigroup lifted their target price on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.30.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $220.23 on Friday. The stock has a 50-day simple moving average of $214.87 and a 200-day simple moving average of $189.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. The stock has a market capitalization of $110.34 billion, a PE ratio of 24.80 and a beta of 0.71. Agnico Eagle Mines Limited has a 1 year low of $103.38 and a 1 year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.13. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The business’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 EPS. On average, analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, March 2nd. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is 20.27%.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.