Waratah Capital Advisors Ltd. Decreases Stock Holdings in Agnico Eagle Mines Limited $AEM

Waratah Capital Advisors Ltd. decreased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 37.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,852 shares of the mining company’s stock after selling 102,023 shares during the period. Agnico Eagle Mines comprises 0.5% of Waratah Capital Advisors Ltd.’s portfolio, making the stock its 21st largest holding. Waratah Capital Advisors Ltd.’s holdings in Agnico Eagle Mines were worth $28,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AEM. Norges Bank purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter worth $938,644,000. Arrowstreet Capital Limited Partnership boosted its position in Agnico Eagle Mines by 38.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock worth $987,398,000 after purchasing an additional 2,319,131 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Agnico Eagle Mines by 48.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock valued at $538,506,000 after purchasing an additional 1,474,385 shares during the last quarter. Invesco Ltd. increased its holdings in Agnico Eagle Mines by 53.1% during the second quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock valued at $495,230,000 after buying an additional 1,444,746 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in Agnico Eagle Mines in the second quarter worth approximately $134,059,000. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Scotiabank reissued an “outperform” rating and set a $280.00 price objective on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Citigroup raised their price objective 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. Jefferies Financial Group set a $189.00 price objective on Agnico Eagle Mines in a research note on Sunday, December 7th. Zacks Research cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $234.91.

Agnico Eagle Mines Trading Up 1.5%

Shares of AEM opened at $244.14 on Wednesday. Agnico Eagle Mines Limited has a 1 year low of $92.11 and a 1 year high of $245.81. The company has a 50 day simple moving average of $197.90 and a two-hundred day simple moving average of $172.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33. The firm has a market cap of $122.32 billion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 0.56 and a beta of 0.63.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the firm earned $1.26 EPS. The company’s revenue for the quarter was up 60.3% on a year-over-year basis. On average, equities analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share 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. Stockholders of record on Monday, March 2nd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.7%. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio is 18.02%.

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.