Swiss Life Asset Management Ltd Increases Stake in Agnico Eagle Mines Limited $AEM

Swiss Life Asset Management Ltd increased its position in shares of Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,027 shares of the mining company’s stock after purchasing an additional 9,988 shares during the period. Swiss Life Asset Management Ltd’s holdings in Agnico Eagle Mines were worth $15,013,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its stake in shares of Agnico Eagle Mines by 2.7% during the third quarter. Groupama Asset Managment now owns 1,522,678 shares of the mining company’s stock valued at $256,663,000 after buying an additional 39,458 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Agnico Eagle Mines by 21.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,222 shares of the mining company’s stock valued at $711,000 after acquiring an additional 743 shares during the period. Coldstream Capital Management Inc. grew its position in Agnico Eagle Mines by 101.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,173 shares of the mining company’s stock valued at $872,000 after acquiring an additional 2,608 shares during the last quarter. Danske Bank A S bought a new position in Agnico Eagle Mines in the 3rd quarter valued at $1,554,000. Finally, Advisory Services Network LLC increased its stake in Agnico Eagle Mines by 2.5% in the third quarter. Advisory Services Network LLC now owns 20,711 shares of the mining company’s stock worth $3,491,000 after purchasing an additional 514 shares during the period. 68.34% of the stock is currently owned by institutional investors.

Agnico Eagle Mines News Roundup

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

Agnico Eagle Mines Price Performance

AEM opened at $184.94 on Friday. The company has a market capitalization of $92.66 billion, a price-to-earnings ratio of 20.83 and a beta of 0.61. 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 Limited has a 12-month low of $94.77 and a 12-month high of $255.24. The business’s fifty day simple moving average is $214.01 and its 200-day simple moving average is $182.65.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last released its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.13. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the company posted $1.26 earnings per share. The firm’s quarterly revenue was up 60.3% on a year-over-year basis. On average, equities research 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, March 2nd. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s dividend payout ratio is currently 20.27%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AEM shares. JPMorgan Chase & Co. decreased their target price on 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. Erste Group Bank raised shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, March 5th. Jefferies Financial Group set a $189.00 price objective on shares of Agnico Eagle Mines in a report on Sunday, December 7th. UBS Group restated a “neutral” rating and issued a $240.00 target price on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Finally, Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. Three equities research 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. Based on data from MarketBeat, Agnico Eagle Mines has a consensus rating of “Buy” and a consensus price target of $234.91.

Check Out Our Latest Research Report on AEM

About Agnico Eagle Mines

(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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