Te Ahumairangi Investment Management Ltd Sells 11,870 Shares of Agnico Eagle Mines Limited $AEM

Te Ahumairangi Investment Management Ltd cut its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 28.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,088 shares of the mining company’s stock after selling 11,870 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Agnico Eagle Mines were worth $5,068,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. grew its holdings 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 buying an additional 134,147 shares during the last quarter. Ninety One UK Ltd increased its position in Agnico Eagle Mines by 386.5% in the 3rd quarter. Ninety One UK Ltd now owns 188,189 shares of the mining company’s stock worth $31,703,000 after buying an additional 149,506 shares during the period. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Agnico Eagle Mines by 1,560.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 48,677 shares of the mining company’s stock worth $8,205,000 after buying an additional 45,746 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Agnico Eagle Mines during the third quarter worth approximately $23,958,000. Finally, TD Asset Management Inc boosted its position in shares of Agnico Eagle Mines by 1.5% in the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock valued at $1,600,436,000 after acquiring an additional 143,645 shares during the period. Institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock traded down $7.77 during midday trading on Friday, hitting $210.48. 578,369 shares of the company were exchanged, compared to its average volume of 2,729,385. Agnico Eagle Mines Limited has a 52 week low of $94.77 and a 52 week high of $255.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33. The firm has a 50 day simple moving average of $211.75 and a 200-day simple moving average of $180.51. The firm has a market cap of $105.45 billion, a P/E ratio of 23.78 and a beta of 0.61.

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 analysts’ consensus estimates of $2.56 by $0.13. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The firm’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same quarter last year, the company posted $1.26 EPS. Research analysts forecast that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued 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 annualized dividend and a dividend yield of 0.9%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 20.27%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AEM shares. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. TD Securities upped their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. reduced their price target on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Raymond James Financial restated an “outperform” rating and set a $225.00 price objective on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Finally, Wall Street Zen lowered shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. Four research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines presently has an average rating of “Buy” and an average target price of $234.91.

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.