Lansforsakringar Fondforvaltning AB publ Purchases 8,823 Shares of Agnico Eagle Mines Limited $AEM

Lansforsakringar Fondforvaltning AB publ lifted its position in shares of Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 8.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,394 shares of the mining company’s stock after acquiring an additional 8,823 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Agnico Eagle Mines were worth $18,934,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its stake in Agnico Eagle Mines by 381.3% during the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in shares of Agnico Eagle Mines by 59.7% during the third 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 bought a new stake in Agnico Eagle Mines in the 3rd quarter worth about $34,000. Addison Advisors LLC raised its position 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 buying an additional 111 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Agnico Eagle Mines during the 2nd quarter valued at about $29,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on AEM. Royal Bank Of Canada lowered shares of Agnico Eagle Mines from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $185.00 to $205.00 in a research note on Wednesday, December 10th. Zacks Research downgraded shares of Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. dropped their price target on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. 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. Finally, Scotiabank reissued an “outperform” rating and issued a $280.00 target price on shares of Agnico Eagle Mines in a report on Tuesday, February 17th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Agnico Eagle Mines currently has an average rating of “Moderate Buy” and an average price target of $234.91.

Check Out Our Latest Stock Report on Agnico Eagle Mines

Agnico Eagle Mines Price Performance

Shares of Agnico Eagle Mines stock opened at $228.11 on Monday. The stock has a market cap of $114.29 billion, a P/E ratio of 25.69, a P/E/G ratio of 0.53 and a beta of 0.63. 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 stock’s fifty day moving average is $194.91 and its 200 day moving average is $171.34. Agnico Eagle Mines Limited has a one year low of $92.11 and a one year high of $229.09.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last released its earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.13. The company had revenue of $3.53 billion for 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 was up 60.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 EPS. Sell-side analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share 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. Investors of record on Monday, March 2nd will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.80 annualized dividend and a yield of 0.8%. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is currently 18.02%.

Key Headlines Impacting Agnico Eagle Mines

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About Agnico Eagle Mines

(Free Report)

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.

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Institutional Ownership by Quarter for Agnico Eagle Mines (NYSE:AEM)

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