Avanza Fonder AB Raises Stock Position in Agnico Eagle Mines Limited $AEM

Avanza Fonder AB grew its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 13.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,584 shares of the mining company’s stock after buying an additional 5,940 shares during the period. Avanza Fonder AB’s holdings in Agnico Eagle Mines were worth $8,406,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Capital World Investors raised its stake in Agnico Eagle Mines by 20.0% during the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after acquiring an additional 3,462,968 shares in the last quarter. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 252,043 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in 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 acquiring an additional 602,489 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Agnico Eagle Mines by 1.5% during the third quarter. TD Asset Management Inc now owns 9,500,193 shares of the mining company’s stock worth $1,600,436,000 after purchasing an additional 143,645 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Agnico Eagle Mines by 1.9% during the second quarter. Mackenzie Financial Corp now owns 8,778,276 shares of the mining company’s stock worth $1,046,468,000 after purchasing an additional 160,650 shares during the last quarter. 68.34% of the stock is owned by hedge funds and other institutional investors.

Agnico Eagle Mines Stock Up 2.5%

AEM opened at $183.53 on Tuesday. Agnico Eagle Mines Limited has a 52 week low of $94.77 and a 52 week high of $255.24. The business has a 50 day moving average price of $213.56 and a two-hundred day moving average price of $183.63. 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 company has a market cap of $91.95 billion, a PE ratio of 20.67 and a beta of 0.61.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.13. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The company’s revenue was up 60.3% on a year-over-year basis. During the same period last year, the business posted $1.26 EPS. As a group, research analysts anticipate that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a dividend of $0.45 per share. This is a boost from Agnico Eagle Mines’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, March 2nd. Agnico Eagle Mines’s dividend payout ratio is 20.27%.

Analyst Ratings Changes

Several analysts have recently weighed in on AEM shares. Wall Street Zen raised Agnico Eagle Mines from a “buy” rating to a “strong-buy” rating in a report on Saturday. Erste Group Bank upgraded Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research note on Thursday, March 5th. Jefferies Financial Group set a $189.00 price target on Agnico Eagle Mines in a research report on Sunday, December 7th. TD Securities boosted 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. Finally, Canadian Imperial Bank of Commerce set a $296.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a report on Wednesday, February 4th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $234.91.

Agnico Eagle Mines 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.