Agnico Eagle Mines Limited $AEM Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. decreased its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 667,254 shares of the mining company’s stock after selling 56,977 shares during the period. Agnico Eagle Mines comprises 4.1% of Addenda Capital Inc.’s portfolio, making the stock its 3rd biggest position. Addenda Capital Inc. owned about 0.13% of Agnico Eagle Mines worth $113,120,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AEM. Capital World Investors increased its holdings in shares of Agnico Eagle Mines by 20.0% during the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after buying an additional 3,462,968 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Agnico Eagle Mines by 48.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock valued at $538,506,000 after purchasing an additional 1,474,385 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Agnico Eagle Mines by 566.2% in the third quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company’s stock valued at $149,593,000 after purchasing an additional 754,919 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Agnico Eagle Mines by 5.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock valued at $1,974,242,000 after purchasing an additional 602,489 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in shares of Agnico Eagle Mines by 138.5% in the third quarter. Korea Investment CORP now owns 972,595 shares of the mining company’s stock valued at $163,847,000 after purchasing an additional 564,723 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Trading Up 2.8%

AEM opened at $215.45 on Thursday. The stock has a market capitalization of $107.95 billion, a P/E ratio of 24.26 and a beta of 0.71. Agnico Eagle Mines Limited has a 12 month low of $102.75 and a 12 month high of $255.24. The firm’s fifty day simple moving average is $212.00 and its 200 day simple moving average is $187.35. 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 (NYSE:AEM) (TSE:AEM) last posted 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 net margin of 37.47% and a return on equity of 18.09%. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the firm posted $1.26 EPS. The firm’s revenue was up 60.3% compared to the same quarter last year. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a dividend of $0.45 per share. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.80 annualized dividend and a yield of 0.8%. Agnico Eagle Mines’s payout ratio is presently 20.27%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen raised shares of Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Scotiabank reaffirmed an “outperform” rating and set a $280.00 target price on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. UBS Group lowered their target price on shares of Agnico Eagle Mines from $240.00 to $210.00 and set a “neutral” rating for the company in a report on Friday, March 27th. JPMorgan Chase & Co. lowered their target price 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. Finally, Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and a consensus price target of $232.18.

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.