First Eagle Investment Management LLC Sells 270,856 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

First Eagle Investment Management LLC decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,676,455 shares of the mining company’s stock after selling 270,856 shares during the period. First Eagle Investment Management LLC owned 1.33% of Agnico Eagle Mines worth $521,665,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Van ECK Associates Corp raised its position in Agnico Eagle Mines by 3.6% during the 4th 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 last quarter. FMR LLC raised its position in Agnico Eagle Mines by 43.5% during the 3rd quarter. FMR LLC now owns 15,061,244 shares of the mining company’s stock valued at $1,213,311,000 after purchasing an additional 4,562,005 shares during the last quarter. CIBC Asset Management Inc raised its position in Agnico Eagle Mines by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 6,383,024 shares of the mining company’s stock valued at $499,956,000 after purchasing an additional 332,576 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Agnico Eagle Mines by 2.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,046,901 shares of the mining company’s stock valued at $472,475,000 after purchasing an additional 154,003 shares during the last quarter. Finally, National Bank of Canada FI raised its position in Agnico Eagle Mines by 7.4% during the 3rd quarter. National Bank of Canada FI now owns 4,155,349 shares of the mining company’s stock valued at $334,749,000 after purchasing an additional 285,565 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AEM shares. TD Securities reduced their target price on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. StockNews.com downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Jefferies Financial Group upped their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Raymond James set a $105.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Finally, Royal Bank of Canada upped 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. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Agnico Eagle Mines Stock Performance

AEM stock opened at $102.64 on Friday. The stock has a market capitalization of $51.62 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 0.66 and a beta of 1.00. Agnico Eagle Mines Limited has a 12-month low of $54.02 and a 12-month high of $104.45. The company has a current ratio of 1.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $92.61 and its 200 day simple moving average is $85.74.

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

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 28th. This represents a $1.60 annualized dividend and a dividend yield of 1.56%. Agnico Eagle Mines’s payout ratio is 42.33%.

About Agnico Eagle Mines

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.