Agnico Eagle Mines Limited $AEM Shares Purchased by Capital Group Investment Management PTE. LTD.

Capital Group Investment Management PTE. LTD. raised its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 103.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,057 shares of the mining company’s stock after acquiring an additional 7,651 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Agnico Eagle Mines were worth $2,537,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. TD Waterhouse Canada Inc. grew its position in Agnico Eagle Mines by 13.4% during the third quarter. TD Waterhouse Canada Inc. now owns 1,133,384 shares of the mining company’s stock valued at $192,951,000 after buying an additional 134,147 shares during the period. Ninety One UK Ltd raised its position in shares of Agnico Eagle Mines by 386.5% in the third quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after acquiring an additional 149,506 shares during the period. Campbell & CO Investment Adviser LLC raised its position 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 worth $8,205,000 after acquiring an additional 45,746 shares during the period. AustralianSuper Pty Ltd purchased a new stake in shares of Agnico Eagle Mines during the 3rd quarter worth about $23,958,000. Finally, Addenda Capital Inc. boosted its stake in shares of Agnico Eagle Mines by 2.3% during the 3rd quarter. Addenda Capital Inc. now owns 724,231 shares of the mining company’s stock worth $122,076,000 after acquiring an additional 15,965 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AEM. Canadian Imperial Bank of Commerce set a $296.00 price target on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. decreased their target price on 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. UBS Group reissued a “neutral” rating and issued a $240.00 price target on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Raymond James Financial reissued an “outperform” rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Finally, Erste Group Bank upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, March 5th. Four analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $234.91.

Agnico Eagle Mines Trading Up 1.9%

Shares of AEM stock opened at $225.28 on Tuesday. The stock’s fifty day moving average is $208.61 and its two-hundred day moving average is $179.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. The firm has a market capitalization of $112.87 billion, a P/E ratio of 25.37 and a beta of 0.61. Agnico Eagle Mines Limited has a fifty-two week low of $94.77 and a fifty-two week high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (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 analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the company posted $1.26 EPS. The firm’s quarterly revenue was up 60.3% on a year-over-year basis. Research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.45 per share. The ex-dividend date is Monday, March 2nd. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 20.27%.

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.