Agnico Eagle Mines Ltd. (AEM) Shares Sold by Essex Investment Management Co. LLC
Essex Investment Management Co. LLC decreased its position in Agnico Eagle Mines Ltd. (NYSE:AEM) by 10.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 346,666 shares of the mining company’s stock after selling 40,937 shares during the period. Agnico Eagle Mines accounts for 3.1% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 2nd largest position. Essex Investment Management Co. LLC owned approximately 0.16% of Agnico Eagle Mines worth $18,547,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Agnico Eagle Mines during the fourth quarter worth $46,865,000. Commonwealth Equity Services Inc purchased a new stake in Agnico Eagle Mines during the first quarter worth $327,000. Aperio Group LLC increased its stake in Agnico Eagle Mines by 17.5% in the first quarter. Aperio Group LLC now owns 124,518 shares of the mining company’s stock worth $4,503,000 after buying an additional 18,573 shares during the period. Virginia Retirement System purchased a new stake in Agnico Eagle Mines during the first quarter worth $530,000. Finally, Ngam Advisors L.P. purchased a new stake in Agnico Eagle Mines during the first quarter worth $424,000. 62.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Agnico Eagle Mines Ltd. (NYSE:AEM) traded up 1.76% during mid-day trading on Wednesday, hitting $55.00. 1,489,334 shares of the company’s stock traded hands. The company has a market cap of $12.29 billion, a PE ratio of 379.31 and a beta of -0.57. The firm has a 50-day moving average of $54.48 and a 200 day moving average of $48.90. Agnico Eagle Mines Ltd. has a 52 week low of $24.21 and a 52 week high of $60.10.
Agnico Eagle Mines (NYSE:AEM) last released its quarterly earnings results on Thursday, July 28th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.06. The firm earned $537.60 million during the quarter, compared to the consensus estimate of $507.37 million. Agnico Eagle Mines had a net margin of 1.61% and a return on equity of 1.88%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 earnings per share. Equities research analysts predict that Agnico Eagle Mines Ltd. will post $0.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 0.73%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.08. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 213.35%.
A number of equities research analysts recently weighed in on AEM shares. Credit Suisse Group AG reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Saturday, June 4th. HSBC reissued a “buy” rating on shares of Agnico Eagle Mines in a research report on Thursday, July 7th. Desjardins raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, July 13th. Dundee Securities downgraded Agnico Eagle Mines from a “buy” rating to a “neutral” rating in a research report on Thursday, July 14th. Finally, Zacks Investment Research raised Agnico Eagle Mines from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $51.93.
Agnico Eagle Mines Company Profile
Agnico Eagle Mines Limited is a gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates through three business units. The Northern Business consists of its operations in Canada and Finland.
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