Schroder Investment Management Group Cuts Stock Position in Agnico Eagle Mines Limited $AEM

Schroder Investment Management Group lessened its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 391,337 shares of the mining company’s stock after selling 46,743 shares during the quarter. Schroder Investment Management Group’s holdings in Agnico Eagle Mines were worth $65,263,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in AEM. Vanguard Group Inc. grew its holdings in shares of Agnico Eagle Mines by 1.2% in the third quarter. Vanguard Group Inc. now owns 20,669,949 shares of the mining company’s stock valued at $3,481,382,000 after purchasing an additional 252,043 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Agnico Eagle Mines by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock worth $1,974,242,000 after buying an additional 602,489 shares during the period. TD Asset Management Inc lifted its holdings in Agnico Eagle Mines by 1.5% during the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after buying an additional 143,645 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Agnico Eagle Mines by 1.9% during the 2nd quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock worth $1,046,468,000 after buying an additional 160,650 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Agnico Eagle Mines by 38.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after buying an additional 2,319,131 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Canadian Imperial Bank of Commerce set a $296.00 price target on shares of Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. reduced their price objective 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. Citigroup boosted their target price on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Zacks Research upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Finally, Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research report on Sunday, December 7th. Four analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $234.91.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $227.05 on Wednesday. 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 company has a fifty day simple moving average of $209.71 and a 200-day simple moving average of $179.94. The stock has a market cap of $113.76 billion, a P/E ratio of 25.57 and a beta of 0.61. Agnico Eagle Mines Limited has a 12-month low of $94.77 and a 12-month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, February 12th. The mining company reported $2.69 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 quarter in the prior year, the company posted $1.26 earnings per share. Agnico Eagle Mines’s revenue for the quarter was up 60.3% compared to the same quarter last year. Equities analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

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