Agnico Eagle Mines Limited $AEM Stock Position Cut by Merk Investments LLC

Merk Investments LLC trimmed its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 15.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,000 shares of the mining company’s stock after selling 25,000 shares during the period. Agnico Eagle Mines accounts for about 7.3% of Merk Investments LLC’s investment portfolio, making the stock its 5th biggest holding. Merk Investments LLC’s holdings in Agnico Eagle Mines were worth $23,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of AEM. Norges Bank purchased a new position in shares of Agnico Eagle Mines in the 2nd quarter valued at approximately $938,644,000. Capital World Investors boosted its holdings in shares of 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 valued at $3,497,470,000 after buying an additional 3,462,968 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of 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 worth $987,398,000 after buying an additional 2,319,131 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Agnico Eagle Mines by 48.3% in 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 worth $538,506,000 after buying an additional 1,474,385 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Agnico Eagle Mines by 53.1% in the 2nd quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock worth $495,230,000 after acquiring an additional 1,444,746 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 1.2%

NYSE:AEM opened at $209.95 on Tuesday. The firm has a market cap of $105.19 billion, a P/E ratio of 23.64 and a beta of 0.61. 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 Limited has a fifty-two week low of $94.77 and a fifty-two week high of $255.24. The firm has a 50-day simple moving average of $213.19 and a two-hundred day simple moving average of $182.08.

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, topping 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 firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The business’s revenue was up 60.3% on a year-over-year basis. Analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a $0.45 dividend. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.80 annualized dividend and a yield of 0.9%. Agnico Eagle Mines’s payout ratio is currently 20.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Citigroup lifted their target price on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Erste Group Bank upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen cut Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. Four research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $234.91.

Agnico Eagle Mines 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.