Agnico Eagle Mines Limited $AEM Shares Acquired by TD Asset Management Inc

TD Asset Management Inc raised its holdings in Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,500,193 shares of the mining company’s stock after acquiring an additional 143,645 shares during the quarter. Agnico Eagle Mines accounts for about 1.3% of TD Asset Management Inc’s portfolio, making the stock its 15th biggest holding. TD Asset Management Inc owned 1.89% of Agnico Eagle Mines worth $1,600,436,000 as of its most recent SEC filing.

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

Agnico Eagle Mines News Roundup

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

Agnico Eagle Mines Trading Up 1.5%

NYSE:AEM opened at $244.14 on Wednesday. The company has a market capitalization of $122.32 billion, a P/E ratio of 27.49, a P/E/G ratio of 0.56 and a beta of 0.63. The stock’s 50 day moving average price is $197.90 and its 200 day moving average price is $172.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. Agnico Eagle Mines Limited has a 52 week low of $92.11 and a 52 week high of $245.81.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last announced its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping the consensus estimate 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 company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the business posted $1.26 EPS. Agnico Eagle Mines’s quarterly revenue was up 60.3% on a year-over-year basis. On average, research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.7%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio is 18.02%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. Scotiabank restated an “outperform” rating and set a $280.00 price target on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Erste Group Bank lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce set a $296.00 target price on shares of Agnico Eagle Mines and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Finally, Jefferies Financial Group set a $189.00 target price on Agnico Eagle Mines in a report on Sunday, December 7th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $234.91.

Check Out Our Latest Stock Analysis on Agnico Eagle Mines

Agnico Eagle Mines Company 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.

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

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