Brown Advisory Inc. Cuts Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Brown Advisory Inc. reduced its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 13.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,299 shares of the mining company’s stock after selling 516 shares during the period. Brown Advisory Inc.’s holdings in Agnico Eagle Mines were worth $358,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Agnico Eagle Mines by 11.5% during the 4th quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock worth $252,000 after purchasing an additional 331 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Agnico Eagle Mines during the 4th quarter worth approximately $814,000. Farther Finance Advisors LLC boosted its position in Agnico Eagle Mines by 7.9% during the fourth quarter. Farther Finance Advisors LLC now owns 4,796 shares of the mining company’s stock worth $375,000 after acquiring an additional 353 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in Agnico Eagle Mines by 10.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,926 shares of the mining company’s stock worth $1,715,000 after acquiring an additional 2,144 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in Agnico Eagle Mines by 7.1% during the fourth quarter. Natixis Advisors LLC now owns 92,792 shares of the mining company’s stock worth $7,257,000 after acquiring an additional 6,171 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

AEM opened at $119.12 on Wednesday. The company has a 50-day moving average of $117.85 and a 200-day moving average of $106.31. The company has a market capitalization of $59.89 billion, a P/E ratio of 25.34, a PEG ratio of 0.89 and a beta of 0.50. Agnico Eagle Mines Limited has a 1-year low of $69.72 and a 1-year high of $126.76. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 2.37.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, April 24th. The mining company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.14. The company had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.27 billion. Agnico Eagle Mines had a net margin of 26.48% and a return on equity of 12.09%. The company’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 EPS. Equities analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.40 per share. This represents a dividend yield of 1.36%. The ex-dividend date was Friday, May 30th. Agnico Eagle Mines’s dividend payout ratio is presently 34.04%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Stifel Canada raised shares of Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. CIBC reissued an “outperform” rating on shares of Agnico Eagle Mines in a research note on Tuesday. Cfra Research upgraded shares of Agnico Eagle Mines to a “strong-buy” rating in a report on Friday, April 25th. Raymond James Financial upgraded shares of Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 target price on the stock in a report on Monday, June 30th. Finally, Citigroup lifted their target price on shares of Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a report on Monday, March 31st. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Buy” and an average target price of $136.90.

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.