Agnico Eagle Mines Limited $AEM Position Increased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ boosted its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 42.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 108,942 shares of the mining company’s stock after buying an additional 32,720 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Agnico Eagle Mines were worth $18,362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. True Wealth Design LLC lifted its holdings in shares of Agnico Eagle Mines by 381.3% during the third quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in Agnico Eagle Mines during the 2nd quarter worth about $29,000. City State Bank lifted its stake in Agnico Eagle Mines by 69.2% during the second quarter. City State Bank now owns 269 shares of the mining company’s stock valued at $32,000 after buying an additional 110 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after buying an additional 74 shares during the period. Finally, MCF Advisors LLC acquired a new position in shares of Agnico Eagle Mines in the third quarter worth about $34,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Down 1.7%

Shares of NYSE AEM opened at $212.91 on Wednesday. The business has a 50 day simple moving average of $191.50 and a 200 day simple moving average of $169.42. Agnico Eagle Mines Limited has a 52 week low of $92.11 and a 52 week high of $225.00. The stock has a market cap of $106.67 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 0.51 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.12.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.13. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.53%. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The company’s revenue was up 60.3% compared to the same quarter last year. On average, research 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 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 a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.8%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 20.27%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEM. Raymond James Financial restated an “outperform” rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Zacks Research lowered Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 31st. Citigroup increased 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. Finally, UBS Group reaffirmed a “neutral” rating and set a $240.00 target price on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $236.09.

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.