First Eagle Investment Management LLC Has $880.56 Million Stock Position in Agnico Eagle Mines Limited $AEM

First Eagle Investment Management LLC lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,192,410 shares of the mining company’s stock after selling 66,141 shares during the quarter. Agnico Eagle Mines makes up approximately 1.5% of First Eagle Investment Management LLC’s portfolio, making the stock its 28th largest holding. First Eagle Investment Management LLC’s holdings in Agnico Eagle Mines were worth $880,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. MCF Advisors LLC acquired a new stake in shares of Agnico Eagle Mines in the third quarter worth about $34,000. Abound Wealth Management lifted its position in shares of Agnico Eagle Mines by 99.0% during the 4th quarter. Abound Wealth Management now owns 209 shares of the mining company’s stock worth $35,000 after purchasing an additional 104 shares during the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth about $35,000. Caitlin John LLC acquired a new position in shares of Agnico Eagle Mines during the 3rd quarter worth about $36,000. Finally, Bangor Savings Bank acquired a new position in shares of Agnico Eagle Mines during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 1.9%

AEM stock opened at $196.93 on Tuesday. Agnico Eagle Mines Limited has a 1-year low of $103.38 and a 1-year high of $255.24. The firm has a market cap of $98.56 billion, a P/E ratio of 18.51, a P/E/G ratio of 4.23 and a beta of 0.58. The business’s 50 day moving average is $206.69 and its 200-day moving average is $192.50. The company has a current ratio of 3.15, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, April 30th. The mining company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.21. Agnico Eagle Mines had a return on equity of 21.09% and a net margin of 39.46%.The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the company posted $1.53 EPS. The company’s revenue was up 66.1% compared to the same quarter last year. Equities analysts anticipate that Agnico Eagle Mines Limited will post 13.09 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.45 per share. The ex-dividend date is Monday, June 1st. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. Agnico Eagle Mines’s dividend payout ratio is 16.92%.

Analysts Set New Price Targets

Several research firms recently weighed in on AEM. Raymond James Financial reissued an “outperform” rating and set a $225.00 price objective on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. JPMorgan Chase & Co. boosted their price objective on Agnico Eagle Mines from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Weiss Ratings cut Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, April 29th. Citigroup boosted their price objective on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Finally, Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $238.18.

Agnico Eagle Mines 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.