Envestnet Asset Management Inc. Sells 9,985 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Envestnet Asset Management Inc. lowered its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 275,479 shares of the mining company’s stock after selling 9,985 shares during the period. Envestnet Asset Management Inc.’s holdings in Agnico Eagle Mines were worth $21,545,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Agnico Eagle Mines during the 4th quarter valued at about $573,446,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Agnico Eagle Mines by 81.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,051,473 shares of the mining company’s stock worth $551,339,000 after buying an additional 3,155,927 shares during the last quarter. AGF Management Ltd. boosted its holdings in shares of Agnico Eagle Mines by 184.6% in the fourth quarter. AGF Management Ltd. now owns 1,395,850 shares of the mining company’s stock worth $109,205,000 after buying an additional 905,328 shares during the last quarter. Van ECK Associates Corp grew its position in Agnico Eagle Mines by 3.6% during the fourth quarter. Van ECK Associates Corp now owns 22,322,859 shares of the mining company’s stock valued at $1,745,858,000 after buying an additional 778,919 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Agnico Eagle Mines by 33.2% during the fourth quarter. Geode Capital Management LLC now owns 3,006,646 shares of the mining company’s stock valued at $239,844,000 after buying an additional 749,932 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

AEM stock opened at $118.48 on Tuesday. The company has a market capitalization of $59.63 billion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87. The company’s fifty day moving average price is $102.03 and its 200-day moving average price is $90.08. Agnico Eagle Mines Limited has a one year low of $60.15 and a one year high of $119.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.86.

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

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, February 28th. Agnico Eagle Mines’s dividend payout ratio is presently 42.33%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Agnico Eagle Mines from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. StockNews.com downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Bank of America upped their price target on Agnico Eagle Mines from $119.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, April 8th. Citigroup lifted their price objective on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, March 31st. Finally, Jefferies Financial Group increased their target price on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Buy” and an average price target of $114.00.

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.