Barings LLC Reduces Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Barings LLC lessened its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 17.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,165 shares of the mining company’s stock after selling 18,674 shares during the quarter. Barings LLC’s holdings in Agnico Eagle Mines were worth $6,967,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc purchased a new position in Agnico Eagle Mines in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC increased its holdings in Agnico Eagle Mines by 859.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock valued at $28,000 after buying an additional 318 shares during the last quarter. Decker Retirement Planning Inc. purchased a new position in Agnico Eagle Mines in the fourth quarter valued at $29,000. Fifth Third Bancorp grew its holdings in shares of Agnico Eagle Mines by 176.9% during the fourth quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after purchasing an additional 260 shares during the last quarter. Finally, Duncker Streett & Co. Inc. grew its holdings in shares of Agnico Eagle Mines by 37.3% during the fourth quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

NYSE AEM opened at $98.85 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. Agnico Eagle Mines Limited has a 52-week low of $54.02 and a 52-week high of $101.45. The business’s 50-day moving average price is $91.32 and its 200 day moving average price is $85.38. The firm has a market cap of $49.71 billion, a P/E ratio of 26.15, a P/E/G ratio of 0.66 and a beta of 1.00.

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

Agnico Eagle Mines Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Raymond James set a $105.00 price objective on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Royal Bank of Canada raised their price objective on Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Scotiabank raised their price objective on Agnico Eagle Mines from $103.00 to $105.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Jefferies Financial Group raised their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Finally, TD Securities dropped their price objective 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.78.

Agnico Eagle Mines Company 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.