Agnico Eagle Mines Limited $AEM Shares Purchased by Bank of America Corp DE

Bank of America Corp DE boosted its position in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 1.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,635,979 shares of the mining company’s stock after acquiring an additional 73,422 shares during the quarter. Bank of America Corp DE owned 1.12% of Agnico Eagle Mines worth $950,001,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Capital World Investors lifted its position 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 purchasing an additional 3,462,968 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Agnico Eagle Mines by 1.2% in 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 increased its stake in Agnico Eagle Mines by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,712,397 shares of the mining company’s stock worth $1,974,242,000 after buying an additional 602,489 shares during the period. TD Asset Management Inc lifted its holdings in Agnico Eagle Mines by 1.5% during 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 lifted its holdings in Agnico Eagle Mines by 1.9% during 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 institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AEM shares. TD Securities raised their price target on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Erste Group Bank raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Thursday, March 5th. JPMorgan Chase & Co. decreased their target price on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. UBS Group reissued a “neutral” rating and set a $240.00 target price on shares of Agnico Eagle Mines in a research note on Friday, January 30th. Finally, Zacks Research upgraded Agnico Eagle Mines from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Four research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $234.91.

Agnico Eagle Mines Trading Up 1.2%

NYSE AEM opened at $209.95 on Tuesday. Agnico Eagle Mines Limited has a 52 week low of $94.77 and a 52 week high of $255.24. The firm has a 50 day moving average of $213.19 and a two-hundred day moving average of $182.08. 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 stock has a market capitalization of $105.19 billion, a PE ratio of 23.64 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.13. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.40 billion. Agnico Eagle Mines had a net margin of 37.47% and a return on equity of 18.09%. The company’s revenue was up 60.3% on a year-over-year basis. During the same period last year, the business earned $1.26 EPS. As a group, research analysts expect 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 paid a $0.45 dividend. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, March 2nd. Agnico Eagle Mines’s payout ratio is 20.27%.

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.