Swiss Life Asset Management Ltd Increases Position in Agnico Eagle Mines Limited $AEM

Swiss Life Asset Management Ltd increased its stake in shares of Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 12.6% in the third quarter, HoldingsChannel reports. The firm owned 89,027 shares of the mining company’s stock after buying an additional 9,988 shares during the period. Swiss Life Asset Management Ltd’s holdings in Agnico Eagle Mines were worth $15,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its position 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 during the last quarter. Blue Bell Private Wealth Management LLC grew its position in shares of Agnico Eagle Mines by 59.7% in the 3rd 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 shares of Agnico Eagle Mines during the 3rd quarter worth approximately $34,000. Caitlin John LLC bought a new position in shares of Agnico Eagle Mines during the 3rd quarter worth approximately $36,000. Finally, Addison Advisors LLC boosted its stake in Agnico Eagle Mines by 94.1% in the third quarter. Addison Advisors LLC now owns 229 shares of the mining company’s stock valued at $39,000 after acquiring an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AEM. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. Scotiabank reiterated an “outperform” rating and issued a $280.00 price target on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. JPMorgan Chase & Co. cut 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 report on Wednesday, February 18th. Finally, Canadian Imperial Bank of Commerce set a $296.00 price objective on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $234.91.

Read Our Latest Report on Agnico Eagle Mines

Key Headlines Impacting Agnico Eagle Mines

Here are the key news stories impacting Agnico Eagle Mines this week:

Agnico Eagle Mines Stock Performance

Shares of AEM opened at $184.94 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. The stock has a 50-day moving average of $214.01 and a two-hundred day moving average of $182.65. The stock has a market cap of $92.66 billion, a P/E ratio of 20.83 and a beta of 0.61. Agnico Eagle Mines Limited has a one year low of $94.77 and a one year high of $255.24.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last announced its quarterly earnings data 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. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The company’s revenue for the quarter was up 60.3% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. As a group, research analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.45 dividend. This is an increase 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 dividend yield of 1.0%. Agnico Eagle Mines’s payout ratio is currently 20.27%.

About Agnico Eagle Mines

(Free Report)

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.

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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