Sagespring Wealth Partners LLC Sells 3,047 Shares of Agnico Eagle Mines Limited $AEM

Sagespring Wealth Partners LLC decreased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 18.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,327 shares of the mining company’s stock after selling 3,047 shares during the period. Sagespring Wealth Partners LLC’s holdings in Agnico Eagle Mines were worth $2,259,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in shares of Agnico Eagle Mines by 381.3% in the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Agnico Eagle Mines during the second quarter valued at approximately $29,000. Blue Bell Private Wealth Management LLC grew its stake in Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. MCF Advisors LLC bought a new stake in Agnico Eagle Mines during the 3rd quarter worth approximately $34,000. Finally, Caitlin John LLC bought a new stake in Agnico Eagle Mines during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AEM shares. Erste Group Bank raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, March 5th. Royal Bank Of Canada cut shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $185.00 to $205.00 in a report on Wednesday, December 10th. Citigroup increased their price objective on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. UBS Group reissued a “neutral” rating and set a $240.00 price objective on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Finally, Raymond James Financial restated an “outperform” rating and issued a $225.00 target price on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $234.91.

Check Out Our Latest Research Report on Agnico Eagle Mines

Agnico Eagle Mines Price Performance

AEM stock opened at $179.12 on Friday. The firm has a 50 day simple moving average of $213.77 and a two-hundred day simple moving average of $183.14. The stock has a market cap of $89.74 billion, a PE ratio of 20.17 and a beta of 0.61. Agnico Eagle Mines Limited has a one year low of $94.77 and a one year high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter last year, the company posted $1.26 EPS. The business’s quarterly revenue was up 60.3% on a year-over-year basis. On average, analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a dividend of $0.45 per share. The ex-dividend date was Monday, March 2nd. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 20.27%.

Key Headlines Impacting Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

Agnico Eagle Mines Company Profile

(Free Report)

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

Further Reading

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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