Flossbach Von Storch AG Sells 4,933,992 Shares of Agnico Eagle Mines Limited (NYSE:AEM)

Flossbach Von Storch AG reduced its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 87.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 732,980 shares of the mining company’s stock after selling 4,933,992 shares during the quarter. Flossbach Von Storch AG’s holdings in Agnico Eagle Mines were worth $40,204,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quilter Plc bought a new stake in shares of Agnico Eagle Mines in the 1st quarter valued at about $204,981,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at about $26,000. Bruce G. Allen Investments LLC bought a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at about $33,000. CVA Family Office LLC bought a new stake in shares of Agnico Eagle Mines in the 4th quarter valued at about $36,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the 3rd quarter valued at approximately $34,000. 68.34% of the stock is owned by institutional investors.

Agnico Eagle Mines Stock Up 1.2 %

Shares of NYSE AEM traded up $0.75 during trading hours on Wednesday, hitting $62.49. The company had a trading volume of 3,462,484 shares, compared to its average volume of 3,274,296. The stock has a market capitalization of $31.16 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 0.92 and a beta of 1.06. The company has a quick ratio of 0.74, a current ratio of 2.09 and a debt-to-equity ratio of 0.10. Agnico Eagle Mines Limited has a 1-year low of $43.22 and a 1-year high of $64.19. The firm’s 50 day moving average is $54.48 and its 200-day moving average is $51.70.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Friday, February 16th. The mining company reported $0.57 EPS for the quarter, beating the consensus estimate 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 return on equity of 5.54% and a net margin of 29.29%. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. On average, analysts expect that Agnico Eagle Mines Limited will post 2.51 earnings per share for the current fiscal year.

Agnico Eagle Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Thursday, February 29th. Agnico Eagle Mines’s payout ratio is presently 38.93%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AEM shares. National Bank Financial reiterated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Jefferies Financial Group started coverage on Agnico Eagle Mines in a research report on Thursday, February 29th. They issued a “hold” rating and a $54.00 price objective for the company. 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 research report on Wednesday, February 21st. CIBC decreased their price objective on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, Raymond James boosted their price objective on Agnico Eagle Mines from $66.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, January 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.71.

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.