Agnico Eagle Mines Limited $AEM Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. trimmed its position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,061,709 shares of the mining company’s stock after selling 71,675 shares during the quarter. Agnico Eagle Mines comprises 1.1% of TD Waterhouse Canada Inc.’s holdings, making the stock its 23rd largest position. TD Waterhouse Canada Inc.’s holdings in Agnico Eagle Mines were worth $179,892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors increased its holdings in Agnico Eagle Mines by 20.0% in the 3rd quarter. Capital World Investors now owns 20,765,804 shares of the mining company’s stock worth $3,497,470,000 after buying an additional 3,462,968 shares during the period. Lazard Asset Management LLC lifted its stake in Agnico Eagle Mines by 566.2% during the 3rd quarter. Lazard Asset Management LLC now owns 888,239 shares of the mining company’s stock valued at $149,593,000 after acquiring an additional 754,919 shares during the period. Massachusetts Financial Services Co. MA lifted 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 valued at $1,974,242,000 after acquiring an additional 602,489 shares during the period. Korea Investment CORP boosted its holdings in shares of Agnico Eagle Mines by 138.5% in the 3rd quarter. Korea Investment CORP now owns 972,595 shares of the mining company’s stock valued at $163,847,000 after acquiring an additional 564,723 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Agnico Eagle Mines in the 3rd quarter valued at $68,467,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Price Performance

Shares of NYSE AEM opened at $220.23 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.02 and a quick ratio of 1.33. The stock has a market capitalization of $110.34 billion, a price-to-earnings ratio of 24.80 and a beta of 0.71. The firm’s 50 day simple moving average is $214.87 and its 200-day simple moving average is $190.16. Agnico Eagle Mines Limited has a 12 month low of $103.38 and a 12 month high of $255.24.

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

Agnico Eagle Mines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change 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 0.8%. Agnico Eagle Mines’s dividend payout ratio is presently 20.27%.

Analyst Ratings Changes

AEM has been the subject of several recent research reports. Citigroup raised their target price on shares of Agnico Eagle Mines from $198.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Raymond James Financial reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Agnico Eagle Mines in a report on Wednesday, January 14th. Erste Group Bank downgraded Agnico Eagle Mines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Scotiabank reiterated an “outperform” rating and set a $280.00 price objective on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. Finally, Zacks Research cut Agnico Eagle Mines from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Agnico Eagle Mines has a consensus rating of “Moderate Buy” and an average target price of $237.30.

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.