Steadtrust LLC Has $12.99 Million Holdings in Agnico Eagle Mines Limited $AEM

Steadtrust LLC lowered its position in shares of Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 13.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,634 shares of the mining company’s stock after selling 11,966 shares during the period. Agnico Eagle Mines comprises about 8.0% of Steadtrust LLC’s investment portfolio, making the stock its biggest holding. Steadtrust LLC’s holdings in Agnico Eagle Mines were worth $12,992,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Agnico Eagle Mines in the second quarter valued at about $938,644,000. Capital World Investors boosted its holdings in shares of Agnico Eagle Mines by 20.0% during the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after purchasing an additional 3,462,968 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings 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 grew its stake in shares of Agnico Eagle Mines by 48.3% in 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 worth $538,506,000 after purchasing an additional 1,474,385 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Agnico Eagle Mines by 53.1% in the second quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock worth $495,230,000 after purchasing an additional 1,444,746 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines News Summary

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

Agnico Eagle Mines Price Performance

AEM stock opened at $179.12 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33. Agnico Eagle Mines Limited has a 1 year low of $94.77 and a 1 year high of $255.24. The firm has a 50-day moving average of $213.77 and a 200 day moving average of $183.14. The company has a market cap of $89.74 billion, a P/E ratio of 20.17 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last posted 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 business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the firm posted $1.26 EPS. The business’s revenue was up 60.3% on a year-over-year basis. On average, sell-side analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date 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 (DPR) is 20.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. TD Securities upped their price target on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Jefferies Financial Group set a $189.00 price objective on Agnico Eagle Mines in a research report on Sunday, December 7th. UBS Group reissued a “neutral” rating and set a $240.00 target price on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Canadian Imperial Bank of Commerce set a $296.00 target price on Agnico Eagle Mines and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, Zacks Research raised Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Agnico Eagle Mines has an average rating of “Buy” and a consensus target price of $234.91.

Check Out Our Latest Stock Report on Agnico Eagle Mines

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.

Further Reading

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

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