Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 3,750,000 shares, a decrease of 9.2% from the December 15th total of 4,130,000 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,170,000 shares, the days-to-cover ratio is presently 3.2 days.
Agnico Eagle Mines stock traded down $0.32 during midday trading on Tuesday, reaching $57.81. 27,992 shares of the stock were exchanged, compared to its average volume of 873,643. The company’s fifty day moving average is $60.11 and its 200-day moving average is $57.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.70 and a current ratio of 1.42. The firm has a market cap of $13.89 billion, a PE ratio of 79.07, a PEG ratio of 33.39 and a beta of -0.54. Agnico Eagle Mines has a 52 week low of $38.72 and a 52 week high of $64.88.
Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Wednesday, October 23rd. The mining company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.10. The firm had revenue of $683.00 million for the quarter, compared to analyst estimates of $683.18 million. Agnico Eagle Mines had a negative net margin of 11.06% and a positive return on equity of 3.80%. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 EPS. On average, sell-side analysts anticipate that Agnico Eagle Mines will post 0.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Wednesday, November 27th.
A number of analysts recently weighed in on AEM shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 target price on shares of Agnico Eagle Mines in a report on Thursday, December 5th. ValuEngine lowered shares of Agnico Eagle Mines from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Zacks Investment Research raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Tuesday, December 17th. Barclays raised shares of Agnico Eagle Mines from an “equal weight” rating to an “overweight” rating and set a $92.62 target price on the stock in a report on Wednesday, December 11th. Finally, National Bank Financial upped their target price on shares of Agnico Eagle Mines from $100.00 to $102.00 and gave the stock an “outperform” rating in a report on Sunday, October 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $74.74.
Several large investors have recently modified their holdings of the company. Findlay Park Partners LLP lifted its stake in Agnico Eagle Mines by 84.1% in the third quarter. Findlay Park Partners LLP now owns 5,410,171 shares of the mining company’s stock worth $290,039,000 after acquiring an additional 2,471,771 shares during the period. Invesco Ltd. lifted its holdings in Agnico Eagle Mines by 75.6% during the 2nd quarter. Invesco Ltd. now owns 2,878,319 shares of the mining company’s stock worth $147,483,000 after buying an additional 1,239,129 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Agnico Eagle Mines by 52.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,848,202 shares of the mining company’s stock worth $145,942,000 after buying an additional 976,238 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Agnico Eagle Mines by 7,009.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 533,214 shares of the mining company’s stock worth $27,396,000 after buying an additional 525,714 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Agnico Eagle Mines by 64.2% during the 2nd quarter. Schroder Investment Management Group now owns 600,588 shares of the mining company’s stock worth $32,008,000 after buying an additional 234,755 shares during the last quarter. 60.18% of the stock is currently owned by hedge funds and other institutional investors.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.
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