Skylands Capital LLC Reduces Position in Agnico Eagle Mines Limited (NYSE:AEM)

Skylands Capital LLC trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,125 shares of the mining company’s stock after selling 11,950 shares during the quarter. Skylands Capital LLC’s holdings in Agnico Eagle Mines were worth $3,462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in shares of Agnico Eagle Mines in the fourth quarter valued at about $33,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Agnico Eagle Mines during the 3rd quarter valued at approximately $34,000. CVA Family Office LLC bought a new stake in shares of Agnico Eagle Mines in the 4th quarter worth approximately $36,000. Anchor Investment Management LLC purchased a new position in shares of Agnico Eagle Mines during the fourth quarter valued at approximately $55,000. Finally, Assetmark Inc. bought a new position in shares of Agnico Eagle Mines during the third quarter valued at approximately $87,000. 68.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. CIBC cut their target price on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. TD Securities decreased their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Raymond James increased their price objective on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. Finally, Jefferies Financial Group upped their target price on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Moderate Buy” and a consensus price target of $64.14.

Agnico Eagle Mines Stock Up 0.3 %

Shares of NYSE AEM traded up $0.17 during midday trading on Monday, hitting $65.69. The stock had a trading volume of 1,404,567 shares, compared to its average volume of 3,301,553. The company has a market cap of $32.75 billion, a P/E ratio of 69.32, a PEG ratio of 0.89 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 2.21 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $56.90 and its 200-day moving average is $52.67. Agnico Eagle Mines Limited has a 52 week low of $43.22 and a 52 week high of $67.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, April 25th. The mining company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.16. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. Agnico Eagle Mines had a return on equity of 6.09% and a net margin of 6.79%. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. As a group, analysts predict that Agnico Eagle Mines Limited will post 2.77 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s dividend payout ratio is currently 168.42%.

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.