Capital World Investors Purchases 3,462,968 Shares of Agnico Eagle Mines Limited $AEM

Capital World Investors boosted its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 20.0% during the third quarter, Holdings Channel.com reports. The firm owned 20,765,804 shares of the mining company’s stock after acquiring an additional 3,462,968 shares during the period. Capital World Investors’ holdings in Agnico Eagle Mines were worth $3,497,470,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its position in 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 period. Twin Peaks Wealth Advisors LLC purchased a new stake in Agnico Eagle Mines during the 2nd quarter valued at $29,000. Blue Bell Private Wealth Management LLC lifted its position in 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 last quarter. MCF Advisors LLC bought a new position in Agnico Eagle Mines during the third quarter valued at $34,000. Finally, Caitlin John LLC purchased a new stake in shares of Agnico Eagle Mines in the third quarter valued at $36,000. Institutional investors own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AEM. JPMorgan Chase & Co. reduced their price objective on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Jefferies Financial Group set a $189.00 target price on Agnico Eagle Mines in a research note on Sunday, December 7th. Citigroup upped their price target on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Finally, UBS Group reissued a “neutral” rating and issued a $240.00 price objective on shares of Agnico Eagle Mines in a research report on Friday, January 30th. 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Stock Performance

Shares of NYSE:AEM opened at $225.28 on Tuesday. The firm has a 50 day moving average of $208.61 and a 200 day moving average of $179.31. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $112.87 billion, a price-to-earnings ratio of 25.37 and a beta of 0.61. Agnico Eagle Mines Limited has a 52 week low of $94.77 and a 52 week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating 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 quarter last year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 60.3% on a year-over-year basis. On average, sell-side 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 business 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 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 0.8%. Agnico Eagle Mines’s dividend payout ratio is 20.27%.

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.