Agnico Eagle Mines Limited (NYSE:AEM) Short Interest Update

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 8,010,000 shares, an increase of 15.4% from the March 31st total of 6,940,000 shares. Based on an average daily volume of 3,400,000 shares, the short-interest ratio is currently 2.4 days. Approximately 1.6% of the shares of the company are short sold.

Institutional Investors Weigh In On Agnico Eagle Mines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AEM. Norges Bank acquired a new stake in Agnico Eagle Mines in the 4th quarter valued at about $325,327,000. FIL Ltd boosted its stake in shares of Agnico Eagle Mines by 16.4% in the 4th quarter. FIL Ltd now owns 20,107,126 shares of the mining company’s stock valued at $1,102,481,000 after purchasing an additional 2,831,794 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of Agnico Eagle Mines in the 4th quarter valued at about $132,257,000. Van ECK Associates Corp boosted its stake in shares of Agnico Eagle Mines by 9.5% in the 4th quarter. Van ECK Associates Corp now owns 23,059,010 shares of the mining company’s stock valued at $1,264,791,000 after purchasing an additional 1,995,127 shares during the last quarter. Finally, Capital Wealth Planning LLC bought a new position in shares of Agnico Eagle Mines in the 4th quarter valued at about $88,547,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock traded up $0.30 during mid-day trading on Monday, reaching $65.82. 2,212,898 shares of the stock were exchanged, compared to its average volume of 3,312,240. The company has a market cap of $32.82 billion, a price-to-earnings ratio of 69.28, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The company has a current ratio of 2.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a 50-day simple moving average of $57.26 and a 200 day simple moving average of $52.80. Agnico Eagle Mines has a fifty-two week low of $43.22 and a fifty-two week high of $67.80.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (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 analysts’ expectations of $1.78 billion. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. On average, sell-side analysts predict that Agnico Eagle Mines will post 2.77 EPS for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Friday, May 31st. Agnico Eagle Mines’s payout ratio is presently 168.42%.

Analysts Set New Price Targets

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

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.