Agnico Eagle Mines Limited (NYSE:AEM) Position Boosted by Truist Financial Corp

Truist Financial Corp boosted its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 5.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 37,234 shares of the mining company’s stock after buying an additional 2,006 shares during the period. Truist Financial Corp’s holdings in Agnico Eagle Mines were worth $2,042,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Agnico Eagle Mines by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,224,538 shares of the mining company’s stock valued at $782,855,000 after acquiring an additional 278,647 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Agnico Eagle Mines by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,794,968 shares of the mining company’s stock valued at $626,981,000 after purchasing an additional 152,166 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Agnico Eagle Mines by 0.4% during the fourth quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock worth $538,193,000 after purchasing an additional 41,068 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Agnico Eagle Mines by 8.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 8,380,993 shares of the mining company’s stock worth $383,555,000 after buying an additional 665,356 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Agnico Eagle Mines by 0.4% in the 3rd quarter. CIBC Asset Management Inc now owns 5,455,192 shares of the mining company’s stock valued at $248,653,000 after buying an additional 20,322 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

AEM has been the topic of several research reports. Raymond James increased their price objective on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, January 12th. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a report on Monday, April 8th. Jefferies Financial Group upped their price objective on Agnico Eagle Mines from $54.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. TD Securities raised their target price on Agnico Eagle Mines from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Citigroup upped their price target on shares of Agnico Eagle Mines from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.63.

Agnico Eagle Mines Price Performance

Shares of AEM opened at $68.11 on Friday. Agnico Eagle Mines Limited has a one year low of $43.22 and a one year high of $68.20. The stock’s fifty day moving average is $59.98 and its 200-day moving average is $53.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 2.21. The firm has a market capitalization of $33.96 billion, a price-to-earnings ratio of 71.69, a price-to-earnings-growth ratio of 0.76 and a beta of 1.04.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, April 25th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. Agnico Eagle Mines had a net margin of 6.79% and a return on equity of 6.09%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the firm posted $0.57 EPS. Agnico Eagle Mines’s revenue was up 21.2% compared to the same quarter last year. Equities analysts anticipate that Agnico Eagle Mines Limited will post 3.23 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, May 31st. Agnico Eagle Mines’s dividend payout ratio is presently 168.42%.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.