PCJ Investment Counsel Ltd. Lowers Stake in Agnico Eagle Mines Limited (NYSE:AEM)

PCJ Investment Counsel Ltd. reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 8.3% in the fourth quarter, Holdings Channel reports. The firm owned 28,810 shares of the mining company’s stock after selling 2,600 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Agnico Eagle Mines were worth $2,251,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AEM. Versant Capital Management Inc purchased a new stake in Agnico Eagle Mines in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC lifted its stake 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 worth $28,000 after acquiring an additional 318 shares during the period. Decker Retirement Planning Inc. purchased a new stake in Agnico Eagle Mines in the fourth quarter worth about $29,000. Fifth Third Bancorp lifted its position 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 valued at $32,000 after buying an additional 260 shares during the last quarter. Finally, Duncker Streett & Co. Inc. lifted its position 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 valued at $32,000 after buying an additional 112 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Trading Up 1.0 %

Shares of AEM stock opened at $98.85 on Friday. The stock’s fifty day moving average is $90.92 and its two-hundred day moving average is $85.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86. The firm has a market capitalization of $49.71 billion, a P/E ratio of 26.15, a PEG ratio of 0.66 and a beta of 1.10. Agnico Eagle Mines Limited has a fifty-two week low of $53.94 and a fifty-two week high of $101.45.

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

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 42.33%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Raymond James set a $105.00 price target on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Royal Bank of Canada increased their price target on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. TD Securities dropped their price objective on shares of Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. StockNews.com lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group increased their target price on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.78.

Agnico Eagle Mines 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.