Franklin Resources Inc. Sells 59,494 Shares of Agnico Eagle Mines Limited $AEM

Franklin Resources Inc. trimmed its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,023,863 shares of the mining company’s stock after selling 59,494 shares during the quarter. Franklin Resources Inc.’s holdings in Agnico Eagle Mines were worth $173,992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AEM. True Wealth Design LLC raised its stake in Agnico Eagle Mines by 381.3% in the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its position in 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 valued at $33,000 after acquiring an additional 74 shares in the last quarter. MCF Advisors LLC bought a new stake in Agnico Eagle Mines during the 3rd quarter valued at approximately $34,000. Caitlin John LLC purchased a new position in shares of Agnico Eagle Mines during the 3rd quarter worth approximately $36,000. Finally, Addison Advisors LLC grew its holdings in shares of Agnico Eagle Mines by 94.1% during the 3rd quarter. Addison Advisors LLC now owns 229 shares of the mining company’s stock worth $39,000 after acquiring an additional 111 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AEM shares. Weiss Ratings cut Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Raymond James Financial reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. UBS Group reissued a “neutral” rating and set a $240.00 price objective on shares of Agnico Eagle Mines in a research report on Friday, January 30th. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. reduced 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. Four analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Buy” and an average target price of $234.91.

Agnico Eagle Mines Stock Down 2.1%

Shares of Agnico Eagle Mines stock opened at $218.20 on Friday. The company has a 50-day simple moving average of $211.75 and a two-hundred day simple moving average of $180.51. The stock has a market capitalization of $109.32 billion, a PE ratio of 24.57 and a beta of 0.61. Agnico Eagle Mines Limited has a 52-week low of $94.77 and a 52-week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results 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. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was up 60.3% compared to the same quarter last year. On average, analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders 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 of this dividend is Monday, March 2nd. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio is 20.27%.

Agnico Eagle Mines News Roundup

Here are the key news stories impacting Agnico Eagle Mines this week:

• Positive Sentiment: Agnico’s fundamentals and capital-return profile remain strong: the company has shown solid free cash flow, raised dividends and buybacks are possible if gold prices hold — a near-term tailwind for shareholder returns. Can Agnico Eagle Drive Even Higher Shareholder Returns Ahead?
• Positive Sentiment: Analysts and screens still list AEM as a long-term buy despite short-term metal pullbacks, reflecting expected secular demand for gold which supports miners’ cash flow and dividends. Gold & Silver Slip as Dollar Strengthens: 4 Stocks to Own
• Positive Sentiment: Sector peer strength: Franco‑Nevada’s strong Q4 results and revenue surge highlight robust royalty/stream exposure to current gold prices — a positive read-across for the gold complex and investor interest in gold equities. Franco-Nevada Q4 Earnings Beat Estimates, Revenues Surge 86% Y/Y
• Neutral Sentiment: Market note: AEM recently closed lower relative to the market (reported ~-1.8% on the last session), a data point showing short-term underperformance versus peers. Agnico Eagle Mines (AEM) Declines More Than Market: Some Information for Investors
• Negative Sentiment: Macro headwinds: a stronger U.S. dollar and rising real yields are pressuring gold and silver prices today, which typically drags down gold miners’ shares in the short term. Monitor dollar moves and real rates for further directional cues. Gold & Silver Slip as Dollar Strengthens: 4 Stocks to Own

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.