Te Ahumairangi Investment Management Ltd Has $5.07 Million Stock Holdings in Agnico Eagle Mines Limited $AEM

Te Ahumairangi Investment Management Ltd decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 28.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,088 shares of the mining company’s stock after selling 11,870 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Agnico Eagle Mines were worth $5,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Capital World Investors boosted its position in Agnico Eagle Mines by 20.0% during the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after acquiring an additional 3,462,968 shares during the period. Vanguard Group Inc. increased its holdings in shares of Agnico Eagle Mines by 1.2% in the 3rd 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 during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Agnico Eagle Mines by 5.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after purchasing an additional 602,489 shares during the period. TD Asset Management Inc lifted its position in shares of Agnico Eagle Mines by 1.5% in the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after purchasing an additional 143,645 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Agnico Eagle Mines by 1.9% in the second quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock worth $1,046,468,000 after purchasing an additional 160,650 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AEM. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. TD Securities increased their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. 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. Finally, Scotiabank reiterated an “outperform” rating and set a $280.00 price objective on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Four analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $234.91.

Agnico Eagle Mines Stock Down 3.6%

NYSE AEM traded down $7.77 during trading on Friday, hitting $210.48. 578,369 shares of the company traded hands, compared to its average volume of 2,729,385. Agnico Eagle Mines Limited has a 12 month low of $94.77 and a 12 month high of $255.24. The business has a fifty day simple moving average of $211.75 and a 200 day simple moving average of $180.51. 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 market capitalization of $105.45 billion, a P/E ratio of 23.78 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results 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. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The firm’s revenue was up 60.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 EPS. As a group, sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS 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 given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. 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.