Agnico Eagle Mines Limited $AEM Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 11.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,979 shares of the mining company’s stock after selling 18,124 shares during the quarter. Erste Asset Management GmbH’s holdings in Agnico Eagle Mines were worth $23,061,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AEM. Norges Bank bought a new position in shares of Agnico Eagle Mines during the second quarter valued at approximately $938,644,000. Arrowstreet Capital Limited Partnership boosted its position in Agnico Eagle Mines by 38.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock valued at $987,398,000 after purchasing an additional 2,319,131 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Agnico Eagle Mines by 48.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock worth $538,506,000 after buying an additional 1,474,385 shares during the last quarter. Invesco Ltd. increased its position in Agnico Eagle Mines by 53.1% in the second quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock worth $495,230,000 after buying an additional 1,444,746 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in Agnico Eagle Mines in the second quarter worth $134,059,000. Institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AEM. Scotiabank reissued an “outperform” rating and set a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Citigroup lifted their price objective on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. JPMorgan Chase & Co. decreased their target price on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $225.00 price objective on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Agnico Eagle Mines currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.91.

Agnico Eagle Mines Stock Up 2.5%

AEM stock opened at $246.52 on Friday. The firm’s 50-day moving average is $200.92 and its two-hundred day moving average is $173.82. The company has a market capitalization of $123.51 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 0.56 and a beta of 0.63. Agnico Eagle Mines Limited has a 52 week low of $92.11 and a 52 week high of $246.78. 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 (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, beating 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 business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the business earned $1.26 earnings per share. The business’s revenue for the quarter was up 60.3% on a year-over-year basis. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 18.02%.

Agnico Eagle Mines Company 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.