Allspring Global Investments Holdings LLC Sells 6,921 Shares of Agnico Eagle Mines Limited $AEM

Allspring Global Investments Holdings LLC lowered its holdings in Agnico Eagle Mines Limited (NYSE:AEMFree Report) (TSE:AEM) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 526,079 shares of the mining company’s stock after selling 6,921 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of Agnico Eagle Mines worth $89,356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brookstone Capital Management boosted its holdings in Agnico Eagle Mines by 8.6% during the fourth quarter. Brookstone Capital Management now owns 1,607 shares of the mining company’s stock worth $272,000 after purchasing an additional 127 shares during the last quarter. J. Safra Sarasin Holding AG raised its stake in shares of Agnico Eagle Mines by 36.1% during the 4th quarter. J. Safra Sarasin Holding AG now owns 46,141 shares of the mining company’s stock worth $7,822,000 after purchasing an additional 12,244 shares during the period. Clarius Group LLC raised its position in Agnico Eagle Mines by 30.2% in the fourth quarter. Clarius Group LLC now owns 2,274 shares of the mining company’s stock worth $386,000 after acquiring an additional 528 shares during the period. Baron Wealth Management LLC raised its stake in shares of Agnico Eagle Mines by 3.2% in the fourth quarter. Baron Wealth Management LLC now owns 1,879 shares of the mining company’s stock valued at $319,000 after buying an additional 59 shares during the period. Finally, Worth Asset Management LLC purchased a new stake in Agnico Eagle Mines during the fourth quarter valued at about $300,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

AEM has been the subject of a number of analyst reports. Raymond James Financial restated an “outperform” rating and issued a $225.00 price objective on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. JPMorgan Chase & Co. dropped their price target on Agnico Eagle Mines from $248.00 to $235.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Citigroup boosted their price objective on Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Erste Group Bank lowered shares of Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, Weiss Ratings lowered shares of Agnico Eagle Mines from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, January 12th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $232.18.

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Agnico Eagle Mines Trading Up 5.7%

AEM opened at $202.84 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. Agnico Eagle Mines Limited has a 52 week low of $94.77 and a 52 week high of $255.24. The stock has a market cap of $101.63 billion, a PE ratio of 22.84 and a beta of 0.61. The business has a 50 day moving average of $212.56 and a 200-day moving average of $185.26.

Agnico Eagle Mines (NYSE:AEMGet Free Report) (TSE:AEM) last issued its quarterly earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 18.09% and a net margin of 37.47%.The firm’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 earnings per share. Equities research analysts predict that Agnico Eagle Mines Limited will post 4.63 earnings per share 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. Investors of record on Monday, March 2nd were given a dividend of $0.45 per share. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. Agnico Eagle Mines’s dividend payout ratio is 20.27%.

Agnico Eagle Mines Profile

(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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