Sienna Gestion Has $12.96 Million Position in Agnico Eagle Mines Limited $AEM

Sienna Gestion lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,400 shares of the mining company’s stock after selling 11,000 shares during the period. Agnico Eagle Mines makes up 0.9% of Sienna Gestion’s portfolio, making the stock its 23rd biggest position. Sienna Gestion’s holdings in Agnico Eagle Mines were worth $12,963,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AEM. True Wealth Design LLC grew 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 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 worth $33,000 after acquiring an additional 74 shares during the period. MCF Advisors LLC purchased a new position in Agnico Eagle Mines during the 3rd quarter valued at about $34,000. Caitlin John LLC purchased a new position in Agnico Eagle Mines during the 3rd quarter valued at about $36,000. Finally, Addison Advisors LLC increased its holdings in shares of Agnico Eagle Mines by 94.1% in the 3rd quarter. Addison Advisors LLC now owns 229 shares of the mining company’s stock valued at $39,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Performance

AEM stock opened at $220.80 on Monday. The firm has a 50 day moving average of $207.52 and a two-hundred day moving average of $178.68. Agnico Eagle Mines Limited has a 12 month low of $94.77 and a 12 month high of $255.24. The company has a market capitalization of $110.63 billion, a price-to-earnings ratio of 24.86 and a beta of 0.61. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01.

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 for the quarter, beating analysts’ consensus estimates of $2.56 by $0.13. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. Agnico Eagle Mines’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors 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 represents a $1.80 annualized dividend and a dividend yield of 0.8%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is presently 20.27%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AEM shares. TD Securities increased their price target 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. Raymond James Financial reiterated an “outperform” rating and issued a $225.00 price objective on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a research note on Sunday, December 7th. Scotiabank restated an “outperform” rating and set a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $240.00 price target on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines currently has an average rating of “Buy” and an average target price of $234.91.

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.