Banco Bilbao Vizcaya Argentaria S.A. Raises Stock Holdings in Agnico Eagle Mines Limited $AEM

Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 159.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 26,411 shares of the mining company’s stock after acquiring an additional 16,249 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Agnico Eagle Mines were worth $4,423,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors increased its position in Agnico Eagle Mines by 20.0% in the third quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after purchasing an additional 3,462,968 shares during the last quarter. Vanguard Group Inc. raised its stake in Agnico Eagle Mines by 1.2% during the third quarter. Vanguard Group Inc. now owns 20,669,949 shares of the mining company’s stock valued at $3,481,382,000 after purchasing an additional 252,043 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Agnico Eagle Mines by 5.4% during 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 during the last quarter. TD Asset Management Inc grew its stake in shares of Agnico Eagle Mines by 1.5% in the 3rd quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after buying an additional 143,645 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Agnico Eagle Mines by 1.9% in the 2nd quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock worth $1,046,468,000 after buying an additional 160,650 shares in the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Price Performance

Agnico Eagle Mines stock opened at $209.95 on Tuesday. The firm has a 50-day moving average price of $213.19 and a 200-day moving average price of $182.08. The firm has a market capitalization of $105.19 billion, a PE ratio of 23.64 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 issued its quarterly earnings results 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 company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior 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, equities research analysts forecast that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The firm also recently announced 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 represents a $1.80 annualized dividend and a dividend yield of 0.9%. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 20.27%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AEM. Zacks Research upgraded shares of Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Citigroup lifted their price target on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Weiss Ratings cut Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, January 12th. 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. Finally, TD Securities raised their price objective on Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Four investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $234.91.

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.