Prospector Partners LLC Sells 1,800 Shares of Agnico Eagle Mines Limited (AEM)
Prospector Partners LLC lowered its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,500 shares of the mining company’s stock after selling 1,800 shares during the quarter. Prospector Partners LLC’s holdings in Agnico Eagle Mines were worth $3,865,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Wetherby Asset Management Inc. grew its stake in Agnico Eagle Mines by 3.5% in the 2nd quarter. Wetherby Asset Management Inc. now owns 5,110 shares of the mining company’s stock valued at $230,000 after purchasing an additional 175 shares during the period. WFG Advisors LP grew its stake in Agnico Eagle Mines by 8.6% in the 2nd quarter. WFG Advisors LP now owns 3,889 shares of the mining company’s stock valued at $175,000 after purchasing an additional 309 shares during the period. Korea Investment CORP grew its stake in Agnico Eagle Mines by 3.1% in the 2nd quarter. Korea Investment CORP now owns 14,258 shares of the mining company’s stock valued at $642,000 after purchasing an additional 428 shares during the period. Advisor Group Inc. grew its stake in Agnico Eagle Mines by 2.5% in the 2nd quarter. Advisor Group Inc. now owns 20,304 shares of the mining company’s stock valued at $916,000 after purchasing an additional 497 shares during the period. Finally, Sei Investments Co. grew its stake in Agnico Eagle Mines by 75.7% in the 2nd quarter. Sei Investments Co. now owns 2,260 shares of the mining company’s stock valued at $102,000 after purchasing an additional 974 shares during the period. Institutional investors and hedge funds own 58.43% of the company’s stock.
Several research firms have recently weighed in on AEM. BMO Capital Markets set a $47.00 price target on Agnico Eagle Mines and gave the stock a “hold” rating in a research note on Tuesday, August 22nd. Royal Bank Of Canada reiterated a “hold” rating and set a $54.00 price target on shares of Agnico Eagle Mines in a research note on Thursday, August 24th. ValuEngine upgraded Agnico Eagle Mines from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Credit Suisse Group set a $64.00 price target on Agnico Eagle Mines and gave the stock a “buy” rating in a research note on Sunday, September 10th. Finally, National Bank Financial reiterated an “outperform market weight” rating on shares of Agnico Eagle Mines in a research note on Friday, September 8th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Agnico Eagle Mines presently has an average rating of “Buy” and a consensus price target of $54.44.
Shares of Agnico Eagle Mines Limited (NYSE:AEM) opened at $41.42 on Thursday. The stock has a market capitalization of $9,829.89, a PE ratio of 36.90, a P/E/G ratio of 42.69 and a beta of -0.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.70 and a current ratio of 3.85. Agnico Eagle Mines Limited has a 1-year low of $35.05 and a 1-year high of $51.86.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.11 per share. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, November 30th. This represents a $0.44 dividend on an annualized basis and a yield of 1.06%. Agnico Eagle Mines’s dividend payout ratio is 37.61%.
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About Agnico Eagle Mines
Agnico Eagle Mines Ltd is a Canada-based gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, as well as exploration activities in Canada, Europe, Latin America and the United States. It operates through the business units: Northern Business, which consists of its operations in Canada and Finland, such as the LaRonde mine, the Lapa mine, the Goldex mine, the Meadowbank mine, the Meliadine project and the Malartic Mine in Canada, as well as the Kittila mine in Finland; Southern Business, which consists of its operations in Mexico, such as the Pinos Altos mine that includes the Creston Mascota deposit and the La India mine owned by its indirect subsidiary, as well as Exploration Group, which focuses on the identification of new mineral reserves and mineral resources, and new development opportunities in gold producing regions.
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