Agnico Eagle Mines Limited $AEM is Steadtrust LLC’s Largest Position

Steadtrust LLC lessened its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,634 shares of the mining company’s stock after selling 11,966 shares during the period. Agnico Eagle Mines accounts for approximately 8.0% of Steadtrust LLC’s holdings, making the stock its biggest position. Steadtrust LLC’s holdings in Agnico Eagle Mines were worth $12,992,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AEM. TD Waterhouse Canada Inc. grew its holdings in Agnico Eagle Mines by 13.4% in the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock worth $192,951,000 after purchasing an additional 134,147 shares during the period. Ninety One UK Ltd increased its stake in shares of Agnico Eagle Mines by 386.5% during the third quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock valued at $31,703,000 after purchasing an additional 149,506 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Agnico Eagle Mines by 1,560.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock valued at $8,205,000 after purchasing an additional 45,746 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Agnico Eagle Mines in the 3rd quarter worth approximately $23,958,000. Finally, TD Asset Management Inc boosted its position in shares of Agnico Eagle Mines by 1.5% in the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after purchasing an additional 143,645 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AEM shares. Erste Group Bank raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, March 5th. UBS Group reissued a “neutral” rating and issued a $240.00 target price on shares of Agnico Eagle Mines in a report on Friday, January 30th. Canadian Imperial Bank of Commerce set a $296.00 target price on Agnico Eagle Mines and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. TD Securities raised their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research report on Sunday, December 7th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Buy” and a consensus target price of $234.91.

Get Our Latest Stock Analysis on AEM

Key Headlines Impacting Agnico Eagle Mines

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

Agnico Eagle Mines Stock Down 3.1%

AEM stock opened at $179.12 on Friday. The stock has a market capitalization of $89.74 billion, a P/E ratio of 20.17 and a beta of 0.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33. Agnico Eagle Mines Limited has a 1-year low of $94.77 and a 1-year high of $255.24. The business has a fifty day moving average price of $213.77 and a 200-day moving average price of $183.14.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last released its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 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 company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the firm posted $1.26 earnings per share. Agnico Eagle Mines’s revenue was up 60.3% compared to the same quarter last year. Equities analysts forecast 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 declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, March 2nd. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is 20.27%.

Agnico Eagle Mines Profile

(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.

Further Reading

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

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