Moran Wealth Management LLC Cuts Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Moran Wealth Management LLC decreased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 16,039 shares of the mining company’s stock after selling 1,558 shares during the quarter. Moran Wealth Management LLC’s holdings in Agnico Eagle Mines were worth $1,254,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Versant Capital Management Inc purchased a new position in shares of Agnico Eagle Mines in the 4th quarter worth about $26,000. Smartleaf Asset Management LLC increased its stake in Agnico Eagle Mines by 859.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in Agnico Eagle Mines during the 4th quarter valued at about $29,000. Fifth Third Bancorp raised its holdings in Agnico Eagle Mines by 176.9% in the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after buying an additional 260 shares during the last quarter. Finally, Duncker Streett & Co. Inc. lifted its stake in shares of Agnico Eagle Mines by 37.3% in the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after buying an additional 112 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AEM shares. Scotiabank raised their price target on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. TD Securities reduced their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada boosted their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Raymond James set a $105.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group boosted their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $95.78.

Agnico Eagle Mines Trading Up 3.6 %

Shares of NYSE:AEM opened at $100.54 on Wednesday. The stock’s 50-day simple moving average is $92.15 and its two-hundred day simple moving average is $85.63. The stock has a market capitalization of $50.56 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 0.66 and a beta of 1.00. Agnico Eagle Mines Limited has a 52-week low of $54.02 and a 52-week high of $101.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted 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 return on equity of 10.45% and a net margin of 22.88%. Analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s payout ratio is 42.33%.

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.