Capital World Investors Increases Position in Agnico Eagle Mines Limited $AEM

Capital World Investors increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 20.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,765,804 shares of the mining company’s stock after acquiring an additional 3,462,968 shares during the quarter. Capital World Investors owned approximately 4.13% of Agnico Eagle Mines worth $3,497,470,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. True Wealth Design LLC raised its holdings in shares of Agnico Eagle Mines by 381.3% in the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock worth $26,000 after purchasing an additional 122 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Agnico Eagle Mines during the 2nd quarter valued at $29,000. Blue Bell Private Wealth Management LLC lifted its holdings in Agnico Eagle Mines by 59.7% during the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. MCF Advisors LLC bought a new position in Agnico Eagle Mines during the third quarter worth about $34,000. Finally, Caitlin John LLC bought a new stake in shares of Agnico Eagle Mines in the third quarter valued at approximately $36,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 1.9%

Shares of AEM stock opened at $225.28 on Tuesday. Agnico Eagle Mines Limited has a 12 month low of $94.77 and a 12 month high of $255.24. The company has a 50 day simple moving average of $208.61 and a two-hundred day simple moving average of $179.31. 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 $112.87 billion, a P/E ratio of 25.37 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.13. The business had revenue of $3.53 billion during 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%.Agnico Eagle Mines’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share. On average, research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The business also recently disclosed 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 is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. Agnico Eagle Mines’s payout ratio is 20.27%.

Analysts Set New Price Targets

AEM has been the topic of several recent research reports. JPMorgan Chase & Co. dropped 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. Scotiabank restated an “outperform” rating and issued a $280.00 price objective on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Weiss Ratings lowered Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research report on Sunday, December 7th. Finally, Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $234.91.

About Agnico Eagle Mines

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.