Chase Investment Counsel Corp Sells 162 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Chase Investment Counsel Corp reduced its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 0.3% in the fourth quarter, Holdings Channel reports. The fund owned 56,113 shares of the mining company’s stock after selling 162 shares during the quarter. Agnico Eagle Mines accounts for about 1.4% of Chase Investment Counsel Corp’s portfolio, making the stock its 27th largest position. Chase Investment Counsel Corp’s holdings in Agnico Eagle Mines were worth $4,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Wealth Management Group Inc. boosted its holdings in Agnico Eagle Mines by 0.5% in the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 24,407 shares of the mining company’s stock valued at $1,909,000 after purchasing an additional 125 shares during the period. Diversify Wealth Management LLC boosted its holdings in Agnico Eagle Mines by 2.1% in the 4th quarter. Diversify Wealth Management LLC now owns 6,753 shares of the mining company’s stock valued at $569,000 after purchasing an additional 141 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Agnico Eagle Mines by 34.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the mining company’s stock valued at $51,000 after purchasing an additional 165 shares during the period. US Bancorp DE boosted its holdings in Agnico Eagle Mines by 2.7% in the 4th quarter. US Bancorp DE now owns 6,770 shares of the mining company’s stock valued at $529,000 after purchasing an additional 175 shares during the period. Finally, Tectonic Advisors LLC boosted its holdings in Agnico Eagle Mines by 0.8% in the 4th quarter. Tectonic Advisors LLC now owns 22,640 shares of the mining company’s stock valued at $1,771,000 after purchasing an additional 185 shares during the period. 68.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on AEM. Royal Bank of Canada raised their price target on shares of Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Raymond James set a $105.00 price target on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a report on Tuesday, February 4th. StockNews.com cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Jefferies Financial Group raised their price objective on shares of Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. Finally, Scotiabank raised their price objective on shares of Agnico Eagle Mines from $103.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.78.

Agnico Eagle Mines Price Performance

Shares of NYSE:AEM opened at $96.43 on Friday. The stock has a market cap of $48.50 billion, a PE ratio of 25.51, a PEG ratio of 0.66 and a beta of 1.10. The company’s fifty day moving average is $89.44 and its 200 day moving average is $84.70. Agnico Eagle Mines Limited has a 52 week low of $47.73 and a 52 week high of $101.45. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. Research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, February 28th. Agnico Eagle Mines’s payout ratio is presently 42.33%.

Agnico Eagle Mines 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.