Altrinsic Global Advisors LLC Has $112.82 Million Stake in Agnico Eagle Mines Limited $AEM

Altrinsic Global Advisors LLC lowered its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 15.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 669,310 shares of the mining company’s stock after selling 117,764 shares during the period. Agnico Eagle Mines makes up approximately 4.2% of Altrinsic Global Advisors LLC’s holdings, making the stock its 10th largest holding. Altrinsic Global Advisors LLC owned about 0.13% of Agnico Eagle Mines worth $112,819,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC increased its stake 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 during the period. Blue Bell Private Wealth Management LLC raised its holdings in Agnico Eagle Mines by 59.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. MCF Advisors LLC purchased a new stake in Agnico Eagle Mines during the 3rd quarter valued at $34,000. Caitlin John LLC bought a new stake in Agnico Eagle Mines in the 3rd quarter worth $36,000. Finally, Addison Advisors LLC grew its holdings in Agnico Eagle Mines by 94.1% in the 3rd quarter. Addison Advisors LLC now owns 229 shares of the mining company’s stock worth $39,000 after acquiring an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

AEM has been the subject of several recent analyst reports. TD Securities upped their price objective 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. Erste Group Bank raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, March 5th. Weiss Ratings downgraded Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Scotiabank reaffirmed an “outperform” rating and set a $280.00 price target on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce set a $296.00 price objective on Agnico Eagle Mines and gave the stock an “outperform” rating in a report on Wednesday, February 4th. 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $234.91.

Agnico Eagle Mines Trading Down 5.0%

NYSE:AEM opened at $207.39 on Friday. The company has a 50-day moving average price of $212.49 and a 200-day moving average price of $181.29. The stock has a market cap of $103.91 billion, a price-to-earnings ratio of 23.36 and a beta of 0.61. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 12 month low of $94.77 and a 12 month high of $255.24.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced 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. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the company earned $1.26 earnings per share. Agnico Eagle Mines’s quarterly revenue was up 60.3% on a year-over-year basis. Equities analysts predict 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 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 a positive change from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. Agnico Eagle Mines’s dividend payout ratio (DPR) is currently 20.27%.

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.