Prospector Partners LLC Trims Stock Holdings in Agnico Eagle Mines Limited $AEM

Prospector Partners LLC lowered its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,083 shares of the mining company’s stock after selling 3,332 shares during the period. Prospector Partners LLC’s holdings in Agnico Eagle Mines were worth $6,588,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its stake in shares of Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after buying an additional 122 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter valued at about $29,000. City State Bank boosted its position in shares of Agnico Eagle Mines by 69.2% in the second quarter. City State Bank now owns 269 shares of the mining company’s stock worth $32,000 after acquiring an additional 110 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Finally, MCF Advisors LLC acquired a new position in Agnico Eagle Mines during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

AEM has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. UBS Group reaffirmed a “neutral” rating and issued a $240.00 target price on shares of Agnico Eagle Mines in a research report on Friday, January 30th. TD Securities set a $251.00 price target on Agnico Eagle Mines and gave the company a “buy” rating in a research report on Tuesday. Raymond James Financial restated an “outperform” rating and set a $225.00 price target on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Finally, Royal Bank Of Canada downgraded Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $185.00 to $205.00 in a report on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and an average price target of $234.91.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $220.77 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.31. Agnico Eagle Mines Limited has a 1-year low of $92.11 and a 1-year high of $225.00. The company has a market capitalization of $110.61 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 0.50 and a beta of 0.63. The business has a 50-day moving average of $192.63 and a 200-day moving average of $169.78.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.13. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.Agnico Eagle Mines’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 EPS. On average, equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. Agnico Eagle Mines’s dividend payout ratio is 18.02%.

Agnico Eagle Mines Company Profile

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.