Agnico Eagle Mines Limited (NYSE:AEM) Stake Reduced by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 22.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 820,205 shares of the mining company’s stock after selling 240,197 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.16% of Agnico Eagle Mines worth $64,087,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in Agnico Eagle Mines by 859.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 355 shares of the mining company’s stock worth $28,000 after acquiring an additional 318 shares during the period. Fifth Third Bancorp boosted its position in Agnico Eagle Mines by 176.9% during the 4th quarter. Fifth Third Bancorp now owns 407 shares of the mining company’s stock worth $32,000 after acquiring an additional 260 shares during the period. Duncker Streett & Co. Inc. boosted its position in Agnico Eagle Mines by 37.3% during the 4th quarter. Duncker Streett & Co. Inc. now owns 412 shares of the mining company’s stock worth $32,000 after acquiring an additional 112 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Agnico Eagle Mines during the 4th quarter worth $34,000. Finally, Coppell Advisory Solutions LLC boosted its position in Agnico Eagle Mines by 235.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 469 shares of the mining company’s stock worth $37,000 after acquiring an additional 329 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AEM. Cfra Research upgraded Agnico Eagle Mines to a “strong-buy” rating in a research report on Friday, April 25th. Stifel Canada raised Agnico Eagle Mines to a “strong-buy” rating in a research note on Wednesday, March 19th. Scotiabank reaffirmed an “outperform” rating on shares of Agnico Eagle Mines in a research note on Monday, April 14th. Citigroup raised their target price on Agnico Eagle Mines from $100.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Finally, National Bank Financial raised Agnico Eagle Mines to a “strong-buy” rating in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $124.40.

Agnico Eagle Mines Trading Up 4.0%

Shares of NYSE AEM opened at $112.58 on Wednesday. Agnico Eagle Mines Limited has a 12 month low of $63.01 and a 12 month high of $126.76. The company has a market cap of $56.66 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 0.66 and a beta of 0.54. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $110.97 and a 200-day simple moving average of $95.81.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Thursday, April 24th. The mining company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.14. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.27 billion. Agnico Eagle Mines had a return on equity of 10.45% and a net margin of 22.88%. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS. Sell-side analysts predict that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, December 1st. Agnico Eagle Mines’s dividend payout ratio is currently 34.04%.

Agnico Eagle Mines 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.