PCJ Investment Counsel Ltd. Trims Stake in Agnico Eagle Mines Limited (NYSE:AEM)

PCJ Investment Counsel Ltd. trimmed its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,810 shares of the mining company’s stock after selling 2,600 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Agnico Eagle Mines were worth $2,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AEM. Versant Capital Management Inc purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter worth $26,000. Smartleaf Asset Management LLC increased its stake in shares of Agnico Eagle Mines by 859.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after purchasing an additional 318 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in shares of Agnico Eagle Mines in the 4th quarter worth $29,000. Fifth Third Bancorp boosted its holdings in Agnico Eagle Mines by 176.9% in the 4th 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 period. Finally, Duncker Streett & Co. Inc. boosted its holdings in Agnico Eagle Mines by 37.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after buying an additional 112 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Agnico Eagle Mines Stock Performance

Agnico Eagle Mines stock opened at $98.85 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.86 and a quick ratio of 0.86. The firm has a market capitalization of $49.71 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. Agnico Eagle Mines Limited has a 1-year low of $53.94 and a 1-year high of $101.45. The company’s 50-day moving average is $90.92 and its 200 day moving average is $85.23.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is currently 42.33%.

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.