Legal & General Group Plc Increases Stock Position in Agnico Eagle Mines Limited $AEM

Legal & General Group Plc grew its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,379,311 shares of the mining company’s stock after purchasing an additional 238,540 shares during the period. Legal & General Group Plc owned approximately 0.67% of Agnico Eagle Mines worth $569,292,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Pure Portfolios Holdings LLC raised its holdings in Agnico Eagle Mines by 1.6% in the 3rd quarter. Pure Portfolios Holdings LLC now owns 3,781 shares of the mining company’s stock worth $637,000 after acquiring an additional 60 shares during the last quarter. HB Wealth Management LLC boosted its position in Agnico Eagle Mines by 1.2% in the third quarter. HB Wealth Management LLC now owns 5,640 shares of the mining company’s stock worth $951,000 after purchasing an additional 69 shares during the last quarter. Union Bancaire Privee UBP SA grew its position in Agnico Eagle Mines by 1.6% during the third quarter. Union Bancaire Privee UBP SA now owns 4,446 shares of the mining company’s stock valued at $749,000 after buying an additional 72 shares during the period. Blue Bell Private Wealth Management LLC grew its position in shares of 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 valued at $33,000 after acquiring an additional 74 shares during the period. Finally, Evergreen Capital Management LLC grew its holdings in Agnico Eagle Mines by 0.9% during the second quarter. Evergreen Capital Management LLC now owns 8,232 shares of the mining company’s stock valued at $979,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 1.0%

Shares of AEM opened at $227.05 on Wednesday. The company’s fifty day simple moving average is $209.71 and its 200-day simple moving average is $179.94. The company has a market cap of $113.76 billion, a P/E ratio of 25.57 and a beta of 0.61. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a twelve month low of $94.77 and a twelve month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping 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 18.09%. 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 EPS. The firm’s revenue for the quarter was up 60.3% compared to the same quarter last year. As a group, analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current 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. This is a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. Agnico Eagle Mines’s payout ratio is 20.27%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AEM. Jefferies Financial Group set a $189.00 target price on shares of Agnico Eagle Mines in a report on Sunday, December 7th. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Wall Street Zen lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, UBS Group reissued a “neutral” rating and set a $240.00 price objective on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Four research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target 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.