Agnico Eagle Mines Limited $AEM Shares Sold by Sprott Inc.

Sprott Inc. reduced its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 9.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 865,979 shares of the mining company’s stock after selling 91,474 shares during the period. Agnico Eagle Mines makes up approximately 5.1% of Sprott Inc.’s portfolio, making the stock its 2nd largest position. Sprott Inc.’s holdings in Agnico Eagle Mines were worth $145,898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its stake in Agnico Eagle Mines by 13.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock valued at $192,951,000 after acquiring an additional 134,147 shares during the period. Ninety One UK Ltd boosted its position in 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 worth $31,703,000 after purchasing an additional 149,506 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in shares of Agnico Eagle Mines by 1,560.8% in 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 position in shares of Agnico Eagle Mines in the third quarter valued at about $23,958,000. Finally, Massachusetts Financial Services Co. MA lifted its stake 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 worth $1,974,242,000 after buying an additional 602,489 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AEM has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Erste Group Bank cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Royal Bank Of Canada cut Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $185.00 to $205.00 in a report on Wednesday, December 10th. Raymond James Financial restated an “outperform” rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Finally, Zacks Research upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Friday. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Agnico Eagle Mines currently has an average rating of “Buy” and an average target price of $234.91.

Agnico Eagle Mines Trading Up 0.2%

Shares of AEM stock opened at $252.01 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $126.27 billion, a P/E ratio of 28.38 and a beta of 0.61. The stock has a 50 day simple moving average of $203.91 and a 200 day simple moving average of $176.03. Agnico Eagle Mines Limited has a 1 year low of $94.37 and a 1 year high of $255.24.

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, topping analysts’ consensus estimates of $2.56 by $0.13. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The company’s revenue was up 60.3% on a year-over-year basis. During the same quarter last year, the company earned $1.26 EPS. On average, research analysts predict 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 will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.7%. This is a boost 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 payout ratio 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.