Dynamic Technology Lab Private Ltd Decreases Stake in Agnico Eagle Mines Limited $AEM

Dynamic Technology Lab Private Ltd cut its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 77.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,740 shares of the mining company’s stock after selling 12,550 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Agnico Eagle Mines were worth $631,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Agnico Eagle Mines in the second quarter valued at approximately $938,644,000. Arrowstreet Capital Limited Partnership lifted its position in Agnico Eagle Mines by 38.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock worth $987,398,000 after buying an additional 2,319,131 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Agnico Eagle Mines by 48.3% during 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 worth $538,506,000 after buying an additional 1,474,385 shares during the last quarter. Invesco Ltd. boosted its stake in Agnico Eagle Mines by 53.1% during the second quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock worth $495,230,000 after buying an additional 1,444,746 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in Agnico Eagle Mines in the 2nd quarter valued at $134,059,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Up 1.0%

Shares of NYSE AEM opened at $227.05 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $209.71 and its two-hundred day moving average is $179.94. Agnico Eagle Mines Limited has a 52-week low of $94.77 and a 52-week high of $255.24. The firm has a market cap of $113.76 billion, a price-to-earnings ratio of 25.57 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 EPS for the quarter, topping 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 business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the business posted $1.26 earnings per share. The company’s quarterly revenue was up 60.3% on a year-over-year basis. Research 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. Investors 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 yield of 0.8%. Agnico Eagle Mines’s dividend payout ratio (DPR) is 20.27%.

Analysts Set New Price Targets

A number of analysts have issued reports on AEM shares. Wall Street Zen downgraded Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. Zacks Research raised shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Scotiabank restated an “outperform” rating and set a $280.00 price objective on shares of Agnico Eagle Mines in a research report on Tuesday, February 17th. Weiss Ratings downgraded shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Four investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average 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.