Federated Hermes Inc. Sells 770,002 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Federated Hermes Inc. lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 47.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 853,601 shares of the mining company’s stock after selling 770,002 shares during the period. Federated Hermes Inc. owned approximately 0.17% of Agnico Eagle Mines worth $46,820,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Coppell Advisory Solutions Corp. purchased a new position in Agnico Eagle Mines in the 4th quarter worth approximately $26,000. Bruce G. Allen Investments LLC purchased a new position in Agnico Eagle Mines in the fourth quarter worth $33,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Agnico Eagle Mines in the third quarter valued at $34,000. CVA Family Office LLC purchased a new stake in Agnico Eagle Mines during the fourth quarter valued at about $36,000. Finally, Almanack Investment Partners LLC. bought a new stake in Agnico Eagle Mines during the third quarter worth about $37,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $63.84 on Friday. The company has a quick ratio of 0.74, a current ratio of 2.09 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $55.15 and its two-hundred day simple moving average is $51.92. The firm has a market cap of $31.83 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 0.94 and a beta of 1.06. Agnico Eagle Mines Limited has a 12-month low of $43.22 and a 12-month high of $64.19.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Friday, February 16th. The mining company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.72 billion. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. Agnico Eagle Mines’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 EPS. As a group, equities analysts expect that Agnico Eagle Mines Limited will post 2.51 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s payout ratio is 38.93%.

Analyst Ratings Changes

Several equities analysts have recently commented on AEM shares. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. TD Securities decreased their price target on shares of Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. CIBC cut their price objective on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Raymond James lifted their target price on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. Finally, Jefferies Financial Group started coverage on shares of Agnico Eagle Mines in a research note on Thursday, February 29th. They issued a “hold” rating and a $54.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $63.71.

About Agnico Eagle Mines

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.