HighTower Advisors LLC Sells 6,100 Shares of Agnico Eagle Mines Limited $AEM

HighTower Advisors LLC lessened its stake in shares of Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 11.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 46,120 shares of the mining company’s stock after selling 6,100 shares during the period. HighTower Advisors LLC’s holdings in Agnico Eagle Mines were worth $7,774,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Brighton Jones LLC raised its holdings in shares of Agnico Eagle Mines by 11.5% during the fourth quarter. Brighton Jones LLC now owns 3,216 shares of the mining company’s stock valued at $252,000 after purchasing an additional 331 shares during the period. AQR Capital Management LLC grew its stake in Agnico Eagle Mines by 36.4% in the first quarter. AQR Capital Management LLC now owns 19,829 shares of the mining company’s stock valued at $2,150,000 after acquiring an additional 5,293 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Agnico Eagle Mines by 57.2% during the second quarter. Sivia Capital Partners LLC now owns 3,188 shares of the mining company’s stock valued at $379,000 after acquiring an additional 1,160 shares in the last quarter. Stephens Inc. AR raised its position in shares of Agnico Eagle Mines by 14.9% during the second quarter. Stephens Inc. AR now owns 2,947 shares of the mining company’s stock worth $350,000 after purchasing an additional 382 shares during the period. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in shares of Agnico Eagle Mines by 17.3% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 2,615 shares of the mining company’s stock worth $312,000 after purchasing an additional 385 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

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Agnico Eagle Mines Stock Performance

Shares of Agnico Eagle Mines stock opened at $228.11 on Monday. The business’s fifty day simple moving average is $194.91 and its 200 day simple moving average is $171.34. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 12 month low of $92.11 and a 12 month high of $229.09. The firm has a market capitalization of $114.29 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 0.53 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last announced its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the firm posted $1.26 EPS. The business’s revenue was up 60.3% compared to the same quarter last year. As a group, analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 2nd. Agnico Eagle Mines’s payout ratio is presently 18.02%.

Analyst Ratings Changes

Several research analysts have weighed in on AEM shares. Citigroup upped their price objective on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $185.00 to $205.00 in a report on Wednesday, December 10th. JPMorgan Chase & Co. dropped their price target on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Finally, Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $234.91.

Read Our Latest Stock Analysis on Agnico Eagle Mines

Agnico Eagle Mines Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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