Victory Capital Management Inc. reduced its stake in Agnico Eagle Mines Limited (NYSE: AEM – Get a rating) (TSE:AEM) by 92.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The company held 32,403 shares of the mining company after selling 399,270 shares during the period. Victory Capital Management Inc.’s holdings in Agnico Eagle Mines were worth $1,984,000 when it last filed with the SEC.
Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. Sandy Cove Advisors LLC acquired a new position in Agnico Eagle Mines in the fourth quarter valued at approximately $27,000. UMB Bank NA MO increased its position in Agnico Eagle Mines shares by 764.4% during the first quarter. UMB Bank NA MO now owns 510 shares in the mining company worth $31,000 after purchasing an additional 451 shares during the period. Private Ocean LLC acquired a new position in shares of Agnico Eagle Mines during the first quarter worth approximately $34,000. Chilton Capital Management LLC acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $44,000. Finally, CWM LLC acquired a new position in shares of Agnico Eagle Mines during the fourth quarter worth approximately $59,000. 69.74% of the shares are currently held by institutional investors and hedge funds.
Agnico Eagle Mines Price Performance
Shares of NYSE: AEM opened at $46.26 on Friday. The company’s fifty-day moving average is $46.12 and its two-hundred-day moving average is $52.87. The company has a quick ratio of 1.48, a current ratio of 2.58 and a leverage ratio of 0.08. Agnico Eagle Mines Limited has a 12-month low of $38.02 and a 12-month high of $67.14. The company has a market cap of $21.11 billion, a P/E ratio of 26.28, a price-to-earnings growth ratio of 20.42, and a beta of 0.81.
Agnico Eagle Mines Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Shareholders of record on Thursday, September 1 will receive a dividend of $0.40 per share. This represents an annualized dividend of $1.60 and a yield of 3.46%. The ex-dividend date is Wednesday, August 31. Agnico Eagle Mines’ dividend payout ratio (DPR) is currently 90.91%.
A Wall Street analyst gives his opinion
Several brokerages have recently released reports on AEM. Raymond James cut his price target on Agnico Eagle Mines from $76.00 to $72.00 and set an “outperform” rating for the company in a Friday, May 13 research report. Barclays cut its price target on Agnico Eagle Mines from $70.00 to $62.00 and set an “overweight” rating for the company in a Tuesday, July 19 research report. TheStreet downgraded Agnico Eagle Mines from a “b-” rating to a “c” rating in a Tuesday, July 12 research report. National Bank Financial reduced its target price on Agnico Eagle Mines from C$98.00 to C$75.00 in a Thursday, July 21 research report. Finally, Stifel Nicolaus reduced his price target on Agnico Eagle Mines from CA$100.00 to CA$89.00 in a Wednesday, July 20 research report. Three equity research analysts rated the stock with a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.89.
Profile Agnico Eagle Mines
Agnico Eagle Mines Limited is engaged in the exploration, development and production of mineral properties in Canada, Mexico and Finland. It operates through Northern Business and Southern Business segments. The Company mainly produces and sells gold deposits, as well as silver, zinc and copper deposits.
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