Agnico Eagle Mines Limited $AEM Shares Sold by Stack Financial Management Inc

Stack Financial Management Inc decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 29.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 179,580 shares of the mining company’s stock after selling 73,936 shares during the quarter. Agnico Eagle Mines accounts for approximately 2.3% of Stack Financial Management Inc’s investment portfolio, making the stock its 12th largest holding. Stack Financial Management Inc’s holdings in Agnico Eagle Mines were worth $30,444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Truist Financial Corp lifted its holdings in shares of Agnico Eagle Mines by 2.2% during the fourth quarter. Truist Financial Corp now owns 48,888 shares of the mining company’s stock worth $8,288,000 after purchasing an additional 1,053 shares during the period. SevenBridge Financial Group LLC lifted its holdings in shares of Agnico Eagle Mines by 13.8% during the fourth quarter. SevenBridge Financial Group LLC now owns 2,067 shares of the mining company’s stock worth $350,000 after purchasing an additional 251 shares during the period. Gibraltar Capital Management Inc. lifted its holdings in shares of Agnico Eagle Mines by 11.1% during the fourth quarter. Gibraltar Capital Management Inc. now owns 2,494 shares of the mining company’s stock worth $423,000 after purchasing an additional 250 shares during the period. Horizon Investments LLC lifted its holdings in shares of Agnico Eagle Mines by 2,737.9% during the fourth quarter. Horizon Investments LLC now owns 7,038 shares of the mining company’s stock worth $1,193,000 after purchasing an additional 6,790 shares during the period. Finally, Robertson Stephens Wealth Management LLC acquired a new stake in shares of Agnico Eagle Mines during the fourth quarter worth about $224,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Down 2.1%

Shares of NYSE:AEM opened at $179.66 on Tuesday. Agnico Eagle Mines Limited has a 12-month low of $103.38 and a 12-month high of $255.24. The company has a market capitalization of $89.93 billion, a PE ratio of 16.89, a PEG ratio of 4.12 and a beta of 0.58. The business has a 50 day moving average of $211.77 and a two-hundred day moving average of $192.04. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Thursday, April 30th. The mining company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.69% and a net margin of 39.46%.The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the company posted $1.53 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 66.1% on a year-over-year basis. As a group, analysts forecast that Agnico Eagle Mines Limited will post 12.91 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Agnico Eagle Mines’s payout ratio is presently 16.92%.

Analysts Set New Price Targets

AEM has been the subject of a number of research reports. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. TD Securities boosted their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, ATB Cormark Capital Markets raised Agnico Eagle Mines to an “outperform” rating in a report on Monday. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.18.

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.