St. James Investment Company LLC Reduces Stake in Agnico Eagle Mines Limited

St. James Investment Company LLC has reduced its holdings in Agnico Eagle Mines Limited (NYSE:AEM) during the fourth quarter. According to their latest filing with the Securities and Exchange Commission, the firm sold 17,545 shares, representing a decrease of 3.1%, bringing their total ownership to 543,123 shares of the mining company's stock. This reduction means that Agnico Eagle Mines now comprises about 7.3% of St. James Investment's total portfolio, making it their third-largest position. By the end of the recent quarter, St. James Investment Company LLC held approximately 0.11% of Agnico Eagle Mines, with a total value of around $42,478,000.

Other institutional investors and hedge funds have also adjusted their positions in Agnico Eagle Mines recently. Everstar Asset Management LLC increased its stake by 6.5% during the fourth quarter, now owning 5,888 shares valued at $460,000. O Shaughnessy Asset Management LLC also raised its position by 5.0%, owning 114,253 shares worth $8,929,000 after acquiring an additional 5,466 shares. Delos Wealth Advisors LLC grew its stake by 5.3%, holding 42,741 shares valued at approximately $3,343,000. Additionally, CIBC Private Wealth Group LLC increased its holdings by 6.3%, totaling 2,919 shares worth $243,000.

Notably, Schroder Investment Management Group made a significant increase of 52.9% in their stake, now owning 351,274 shares valued at $27,347,000. Overall, institutional investors and hedge funds collectively own 68.34% of Agnico Eagle Mines's stocks.

Agnico Eagle Mines Stock Performance

The stock opened at $107.34 and has shown a current ratio of 1.86, a quick ratio of 0.86, and a low debt-to-equity ratio of 0.06. With a market capitalization of $53.99 billion, the stock has a PE ratio of 28.40 and a price-to-earnings-growth ratio of 0.66, with a beta of 1.00. The business’s 50-day moving average price is at $97.96, while the 200-day moving average is at $87.91. Agnico Eagle Mines has experienced a twelve-month low of $60.15 and a high of $110.36.

Latest Earnings Report

Agnico Eagle Mines released its earnings results on February 13th, reporting earnings per share (EPS) of $1.26 for the quarter, which was below analysts' expectations of $1.70 by $0.44. The company achieved a return on equity of 10.45% and had a net margin of 22.88%. Analysts predict that Agnico Eagle Mines will report 4.63 earnings per share for the upcoming year.

Recent Dividend Announcement

Recently, the company declared a quarterly dividend of $0.40 per share, which was paid to shareholders on March 14th. The record date for this dividend was February 28th, which also marked the ex-dividend date. The annualized dividend amounts to $1.60, resulting in a yield of 1.49%, with a payout ratio of 42.33%.

Analyst Ratings and Future Outlook

Agnico Eagle Mines has received attention from various research analysts. Jefferies Financial Group raised its target price from $85.00 to $88.00, advising a "hold" rating. Meanwhile, TD Securities lowered their price target from $108.00 to $106.00 but maintained a "buy" rating. Stifel Canada has upgraded the stock to a "strong-buy" rating, while Raymond James set a price target of $105.00 with an "outperform" rating. In total, one analyst has given the stock a hold rating, eight a buy rating, and two a strong buy rating, resulting in an average rating of "Buy" with an average target price of $95.78 according to MarketBeat data.

Overview of Agnico Eagle Mines Limited

Agnico Eagle Mines Limited is engaged in the exploration, development, and production of gold and other precious metals. The company operates mines across several locations, including Canada, Australia, Finland, and Mexico, and has exploration and development initiatives in various regions worldwide.

Investment, Mining, Shares