Flossbach Von Storch AG Decreases Stock Position in Agnico Eagle Mines Limited (NYSE:AEM)

Flossbach Von Storch AG cut its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 87.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 732,980 shares of the mining company’s stock after selling 4,933,992 shares during the quarter. Flossbach Von Storch AG owned 0.15% of Agnico Eagle Mines worth $40,204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Agnico Eagle Mines by 1.6% in the third quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock valued at $782,855,000 after purchasing an additional 278,647 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Agnico Eagle Mines by 1.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock valued at $626,981,000 after purchasing an additional 152,166 shares during the period. Mackenzie Financial Corp boosted its stake in Agnico Eagle Mines by 13.9% during the 4th quarter. Mackenzie Financial Corp now owns 9,852,941 shares of the mining company’s stock valued at $511,175,000 after acquiring an additional 1,199,348 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Agnico Eagle Mines by 8.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company’s stock valued at $383,555,000 after acquiring an additional 665,356 shares during the last quarter. Finally, Norges Bank bought a new position in Agnico Eagle Mines during the 4th quarter valued at $285,370,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. TD Securities reduced their price objective 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. Raymond James increased their price objective on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. Jefferies Financial Group initiated coverage on shares of Agnico Eagle Mines in a research note on Thursday, February 29th. They set a “hold” rating and a $54.00 price objective on the stock. Finally, CIBC reduced their price target on shares of Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.71.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock traded up $0.75 during trading hours on Wednesday, hitting $62.49. 3,462,484 shares of the company traded hands, compared to its average volume of 3,274,296. The firm has a market cap of $31.16 billion, a P/E ratio of 15.20, a P/E/G ratio of 0.92 and a beta of 1.06. 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 firm’s 50-day simple moving average is $54.48 and its two-hundred day simple moving average is $51.70. Agnico Eagle Mines Limited has a 1-year low of $43.22 and a 1-year high of $64.19.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.09. Agnico Eagle Mines had a net margin of 29.29% and a return on equity of 5.54%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the company posted $0.41 EPS. The business’s revenue was up 26.9% compared to the same quarter last year. As a group, analysts forecast that Agnico Eagle Mines Limited will post 2.51 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Thursday, February 29th. Agnico Eagle Mines’s payout ratio is 38.93%.

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.