Agnico Eagle Mines Limited (NYSE:AEM) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. lowered its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 68,006 shares of the mining company’s stock after selling 5,311 shares during the quarter. Baird Financial Group Inc.’s holdings in Agnico Eagle Mines were worth $5,319,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Agnico Eagle Mines in the fourth quarter worth $573,446,000. Capital World Investors raised its stake in Agnico Eagle Mines by 41.9% in the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock worth $1,091,550,000 after acquiring an additional 4,121,164 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Agnico Eagle Mines by 81.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after acquiring an additional 3,155,927 shares during the period. AGF Management Ltd. grew its stake in Agnico Eagle Mines by 184.6% during the 4th quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock valued at $109,205,000 after purchasing an additional 905,328 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Agnico Eagle Mines by 3.6% in the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after purchasing an additional 778,919 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 2.1 %

Shares of NYSE:AEM opened at $117.04 on Friday. The firm has a market capitalization of $58.90 billion, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 0.66 and a beta of 0.54. The business’s 50 day moving average price is $109.90 and its 200-day moving average price is $94.79. 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 1 year low of $63.01 and a 1 year high of $126.76.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its 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 business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business earned $0.76 earnings per share. The company’s revenue for the quarter was up 34.9% compared to the same quarter last year. On average, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.37%. Agnico Eagle Mines’s payout ratio is currently 34.04%.

Analyst Ratings Changes

A number of brokerages recently commented on AEM. Stifel Canada upgraded Agnico Eagle Mines to a “strong-buy” rating in a research report on Wednesday, March 19th. StockNews.com downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Scotiabank reissued an “outperform” rating on shares of Agnico Eagle Mines in a report on Monday, April 14th. National Bank Financial raised shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, March 21st. Finally, Citigroup lifted their price objective on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a research note 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. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $124.40.

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.