Swiss National Bank Sells 81,400 Shares of Agnico Eagle Mines Limited $AEM

Swiss National Bank cut its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,447,858 shares of the mining company’s stock after selling 81,400 shares during the quarter. Swiss National Bank’s holdings in Agnico Eagle Mines were worth $243,964,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Pure Portfolios Holdings LLC boosted its stake in Agnico Eagle Mines by 1.6% in the 3rd quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company’s stock worth $637,000 after purchasing an additional 60 shares in the last quarter. HB Wealth Management LLC increased its stake in Agnico Eagle Mines by 1.2% during the 3rd quarter. HB Wealth Management LLC now owns 5,640 shares of the mining company’s stock valued at $951,000 after purchasing an additional 69 shares in the last quarter. Union Bancaire Privee UBP SA increased its stake in Agnico Eagle Mines by 1.6% during the 3rd quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company’s stock valued at $749,000 after purchasing an additional 72 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in Agnico Eagle Mines by 0.9% in the second quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company’s stock worth $979,000 after buying an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AEM. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Scotiabank restated an “outperform” rating and issued a $280.00 price objective on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. UBS Group reaffirmed a “neutral” rating and issued a $240.00 price objective on shares of Agnico Eagle Mines in a research report on Friday, January 30th. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Four analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Stock Performance

Shares of AEM stock opened at $225.28 on Tuesday. The company has a 50 day moving average price of $208.61 and a 200-day moving average price of $179.31. Agnico Eagle Mines Limited has a 52 week low of $94.77 and a 52 week high of $255.24. The firm has a market capitalization of $112.87 billion, a PE ratio of 25.37 and a beta of 0.61. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.13. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The firm’s quarterly revenue was up 60.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. As a group, equities research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 20.27%.

Agnico Eagle Mines Company 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.