Russell Investments Group Ltd. Cuts Stock Holdings in Agnico Eagle Mines Limited $AEM

Russell Investments Group Ltd. decreased its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,841 shares of the mining company’s stock after selling 25,648 shares during the quarter. Russell Investments Group Ltd.’s holdings in Agnico Eagle Mines were worth $51,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AEM. True Wealth Design LLC boosted its holdings in Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines in the 2nd quarter valued at about $29,000. Blue Bell Private Wealth Management LLC lifted its position in shares of Agnico Eagle Mines by 59.7% during the 3rd 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 in the last quarter. MCF Advisors LLC bought a new position in shares of Agnico Eagle Mines during the 3rd quarter worth approximately $34,000. Finally, Caitlin John LLC purchased a new position in shares of Agnico Eagle Mines in the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $227.05 on Wednesday. The stock has a fifty day simple moving average of $209.71 and a two-hundred day simple moving average of $179.94. Agnico Eagle Mines Limited has a 1-year low of $94.77 and a 1-year high of $255.24. The firm has a market cap of $113.76 billion, a price-to-earnings ratio of 25.57 and a beta of 0.61. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the company posted $1.26 earnings per share. The business’s revenue was up 60.3% on a year-over-year basis. Analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.45 dividend. 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 an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 20.27%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AEM shares. Royal Bank Of Canada lowered Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $185.00 to $205.00 in a report on Wednesday, December 10th. TD Securities upped their price objective on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Weiss Ratings lowered Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. lowered their target price on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Finally, Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $234.91.

About Agnico Eagle Mines

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.