Triasima Portfolio Management inc. Has $21.12 Million Stake in Agnico Eagle Mines Limited (NYSE:AEM)

Triasima Portfolio Management inc. reduced its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 6.7% during the 4th quarter, Holdings Channel reports. The fund owned 384,560 shares of the mining company’s stock after selling 27,400 shares during the quarter. Agnico Eagle Mines makes up approximately 1.7% of Triasima Portfolio Management inc.’s portfolio, making the stock its 20th biggest position. Triasima Portfolio Management inc.’s holdings in Agnico Eagle Mines were worth $21,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in shares of Agnico Eagle Mines by 86.4% in the 1st quarter. Bank of New York Mellon Corp now owns 540,450 shares of the mining company’s stock worth $33,097,000 after purchasing an additional 250,445 shares during the last quarter. US Bancorp DE lifted its position in Agnico Eagle Mines by 108.6% in the 1st quarter. US Bancorp DE now owns 4,420 shares of the mining company’s stock valued at $270,000 after acquiring an additional 2,301 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Agnico Eagle Mines by 37.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,795 shares of the mining company’s stock worth $171,000 after purchasing an additional 764 shares during the period. Natixis Advisors L.P. bought a new position in Agnico Eagle Mines during the 1st quarter worth about $678,000. Finally, BlackRock Inc. raised its stake in shares of Agnico Eagle Mines by 44.0% in the 1st quarter. BlackRock Inc. now owns 364,215 shares of the mining company’s stock valued at $22,304,000 after purchasing an additional 111,208 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AEM shares. TD Securities decreased their price objective on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Raymond James lifted their price objective 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. CIBC reduced their target price 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. Jefferies Financial Group began coverage on shares of Agnico Eagle Mines in a research note on Thursday, February 29th. They issued a “hold” rating and a $54.00 price target on the stock. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Agnico Eagle Mines presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.71.

Agnico Eagle Mines Price Performance

NYSE:AEM traded down $0.22 during trading hours on Friday, reaching $61.45. 5,736,794 shares of the company were exchanged, compared to its average volume of 3,150,495. The business has a 50 day moving average of $53.62 and a 200 day moving average of $51.33. Agnico Eagle Mines Limited has a 1-year low of $43.22 and a 1-year high of $64.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 0.74. The company has a market capitalization of $30.64 billion, a P/E ratio of 14.95, a P/E/G ratio of 0.92 and a beta of 1.06.

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

Agnico Eagle Mines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.60 annualized dividend and a yield of 2.60%. Agnico Eagle Mines’s payout ratio is 38.93%.

About Agnico Eagle Mines

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.