Capital International Inc. CA Raises Holdings in Agnico Eagle Mines Limited $AEM

Capital International Inc. CA increased its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 112.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 40,193 shares of the mining company’s stock after purchasing an additional 21,317 shares during the quarter. Capital International Inc. CA’s holdings in Agnico Eagle Mines were worth $6,770,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AEM. Capital International Investors bought a new position in shares of Agnico Eagle Mines in the 3rd quarter worth $31,123,000. Capital Group Investment Management PTE. LTD. boosted its position in Agnico Eagle Mines by 103.3% during the third quarter. Capital Group Investment Management PTE. LTD. now owns 15,057 shares of the mining company’s stock valued at $2,537,000 after purchasing an additional 7,651 shares in the last quarter. Legal & General Group Plc boosted its position in Agnico Eagle Mines by 7.6% during the third quarter. Legal & General Group Plc now owns 3,379,311 shares of the mining company’s stock valued at $569,292,000 after purchasing an additional 238,540 shares in the last quarter. LGT Fund Management Co Ltd. grew its stake in Agnico Eagle Mines by 146.5% in the third quarter. LGT Fund Management Co Ltd. now owns 14,050 shares of the mining company’s stock valued at $2,395,000 after purchasing an additional 8,350 shares during the last quarter. Finally, Fort Sheridan Advisors LLC purchased a new position in Agnico Eagle Mines in the third quarter valued at about $295,000. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

NYSE AEM opened at $227.05 on Wednesday. The company has a market cap of $113.76 billion, a price-to-earnings ratio of 25.57 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. The stock’s fifty day moving average price is $209.71 and its 200 day moving average price is $179.94. Agnico Eagle Mines Limited has a 1 year low of $94.77 and a 1 year high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued 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. The company 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 firm’s revenue was up 60.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 EPS. As a group, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. 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. Agnico Eagle Mines’s dividend payout ratio is presently 20.27%.

Analyst Ratings Changes

AEM has been the subject of several analyst reports. Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. 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 research report on Wednesday, February 18th. Jefferies Financial Group set a $189.00 price objective on shares of Agnico Eagle Mines in a research note on Sunday, December 7th. Weiss Ratings cut shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. Finally, Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $185.00 to $205.00 in a research note on Wednesday, December 10th. Four investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock 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.