Capital Group Investment Management PTE. LTD. Purchases 7,651 Shares of Agnico Eagle Mines Limited $AEM

Capital Group Investment Management PTE. LTD. boosted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 103.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,057 shares of the mining company’s stock after purchasing an additional 7,651 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Agnico Eagle Mines were worth $2,537,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc grew its position in shares of Agnico Eagle Mines by 7.6% during the 3rd quarter. Legal & General Group Plc now owns 3,379,311 shares of the mining company’s stock worth $569,292,000 after buying an additional 238,540 shares in the last quarter. LGT Fund Management Co Ltd. raised its holdings in shares of Agnico Eagle Mines by 146.5% in the third quarter. LGT Fund Management Co Ltd. now owns 14,050 shares of the mining company’s stock valued at $2,395,000 after acquiring an additional 8,350 shares in the last quarter. Fort Sheridan Advisors LLC purchased a new stake in Agnico Eagle Mines in the third quarter worth about $295,000. Diversify Advisory Services LLC lifted its stake in Agnico Eagle Mines by 6.5% in the third quarter. Diversify Advisory Services LLC now owns 6,556 shares of the mining company’s stock worth $1,065,000 after acquiring an additional 398 shares during the period. Finally, Rathbones Group PLC grew its holdings in Agnico Eagle Mines by 1.7% during the 3rd quarter. Rathbones Group PLC now owns 53,905 shares of the mining company’s stock worth $9,082,000 after acquiring an additional 877 shares in the last quarter. 68.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on AEM. JPMorgan Chase & Co. cut their target price on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Wall Street Zen cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $185.00 to $205.00 in a report on Wednesday, December 10th. Erste Group Bank raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, March 5th. Finally, Citigroup increased their target price on Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Four investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $225.28 on Tuesday. Agnico Eagle Mines Limited has a 12 month low of $94.77 and a 12 month high of $255.24. The stock has a fifty day moving average price of $208.61 and a 200-day moving average price of $179.31. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $112.87 billion, a PE ratio of 25.37 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.13. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The company’s quarterly revenue was up 60.3% on a year-over-year basis. During the same quarter last year, the company earned $1.26 earnings per share. Equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.45 dividend. The ex-dividend date is Monday, March 2nd. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 20.27%.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.