Agnico Eagle Mines Limited $AEM Position Lowered by Prospector Partners LLC

Prospector Partners LLC reduced its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,083 shares of the mining company’s stock after selling 3,332 shares during the quarter. Prospector Partners LLC’s holdings in Agnico Eagle Mines were worth $6,588,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Agnico Eagle Mines by 1.2% during the third quarter. Vanguard Group Inc. now owns 20,669,949 shares of the mining company’s stock worth $3,481,382,000 after purchasing an additional 252,043 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Agnico Eagle Mines by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after buying an additional 602,489 shares during the last quarter. Mackenzie Financial Corp raised its stake in Agnico Eagle Mines by 1.9% during the second quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock worth $1,046,468,000 after acquiring an additional 160,650 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Agnico Eagle Mines by 38.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock worth $987,398,000 after acquiring an additional 2,319,131 shares during the last quarter. Finally, Norges Bank acquired a new position in Agnico Eagle Mines in the second quarter valued at approximately $938,644,000. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines Trading Up 3.7%

Shares of NYSE:AEM opened at $220.77 on Thursday. Agnico Eagle Mines Limited has a twelve month low of $92.11 and a twelve month high of $225.00. The company has a current ratio of 2.02, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The firm has a market cap of $110.61 billion, a P/E ratio of 24.86, a P/E/G ratio of 0.50 and a beta of 0.63. The company has a 50 day moving average of $192.63 and a 200-day moving average of $169.78.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.13. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 60.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 earnings per share. As a group, analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.45 per share. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio (DPR) is 18.02%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AEM. JPMorgan Chase & Co. lowered their price objective on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research note on Wednesday. Scotiabank reiterated an “outperform” rating and issued a $280.00 price objective on shares of Agnico Eagle Mines in a research report on Tuesday. Royal Bank Of Canada cut Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $185.00 to $205.00 in a report on Wednesday, December 10th. Canadian Imperial Bank of Commerce set a $296.00 price objective on Agnico Eagle Mines and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings cut Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.91.

About Agnico Eagle Mines

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.