AustralianSuper Pty Ltd Buys New Holdings in Agnico Eagle Mines Limited $AEM

AustralianSuper Pty Ltd purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 142,280 shares of the mining company’s stock, valued at approximately $23,958,000.

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

Agnico Eagle Mines Price Performance

Shares of AEM stock opened at $234.36 on Wednesday. The stock has a 50 day moving average price of $204.97 and a 200 day moving average price of $176.74. Agnico Eagle Mines Limited has a 52-week low of $94.37 and a 52-week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.02. The firm has a market capitalization of $117.42 billion, a P/E ratio of 26.39 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 EPS 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 company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company posted $1.26 EPS. Agnico Eagle Mines’s quarterly revenue was up 60.3% on a year-over-year basis. As a group, sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio is 20.27%.

Analyst Ratings Changes

A number of equities research analysts recently commented on AEM shares. Zacks Research upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Jefferies Financial Group set a $189.00 price objective on Agnico Eagle Mines in a research note on Sunday, December 7th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. Wall Street Zen cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $225.00 price target on shares of Agnico Eagle Mines in a research note on Wednesday, January 14th. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price 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.