Ninety One SA PTY Ltd Raises Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

Ninety One SA PTY Ltd raised its stake in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,083 shares of the mining company’s stock after buying an additional 11,163 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Agnico Eagle Mines were worth $4,831,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Euro Pacific Asset Management LLC grew its holdings in Agnico Eagle Mines by 0.3% in the 4th quarter. Euro Pacific Asset Management LLC now owns 572,380 shares of the mining company’s stock valued at $31,343,000 after buying an additional 1,827 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Agnico Eagle Mines by 2.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 203,492 shares of the mining company’s stock valued at $11,212,000 after buying an additional 5,319 shares in the last quarter. Independent Family Office LLC purchased a new stake in Agnico Eagle Mines in the 4th quarter valued at $234,000. Capital Analysts LLC purchased a new stake in Agnico Eagle Mines in the 4th quarter valued at $1,557,000. Finally, Mackenzie Financial Corp grew its holdings in Agnico Eagle Mines by 0.4% in the 4th quarter. Mackenzie Financial Corp now owns 9,811,207 shares of the mining company’s stock valued at $538,193,000 after buying an additional 41,068 shares in the last quarter. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Securities dropped their target price on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. National Bank Financial reissued an “outperform overweight” rating on shares of Agnico Eagle Mines in a research report on Monday, April 8th. Raymond James raised their target price on Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. Jefferies Financial Group started coverage on Agnico Eagle Mines in a research report on Thursday, February 29th. They set a “hold” rating and a $54.00 target price on the stock. Finally, CIBC cut their target price on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.71.

Agnico Eagle Mines Stock Performance

NYSE:AEM traded up $0.85 during mid-day trading on Thursday, reaching $63.34. 2,502,647 shares of the stock were exchanged, compared to its average volume of 3,262,655. The company has a 50 day simple moving average of $54.48 and a 200-day simple moving average of $51.70. The stock has a market capitalization of $31.58 billion, a P/E ratio of 15.20, a P/E/G ratio of 0.92 and a beta of 1.06. The company has a quick ratio of 0.74, a current ratio of 2.09 and a debt-to-equity ratio of 0.10. Agnico Eagle Mines Limited has a 1 year low of $43.22 and a 1 year high of $64.19.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its quarterly earnings results on Friday, February 16th. The mining company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.72 billion. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. Analysts anticipate that Agnico Eagle Mines Limited will post 2.51 earnings per share for the current fiscal year.

Agnico Eagle Mines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. Agnico Eagle Mines’s dividend payout ratio is presently 38.93%.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.